Family Deposit remortgage launched by Nationwide.
A brand-new remortgage option has been unveiled by Nationwide BS that they are calling their Family Deposit Mortgage.
It is aimed at parents who want to help their children buy their first property and allows them to raise capital by remortgaging the family home. The capital is then put towards a deposit on their child’s first home.
This type of remortgage can also be for children who have elderly parents that need help or for those simply looking for a new home. Borrowers can apply for up to 80% loan to value.
An important condition of the remortgage is that the FTB must take out their first mortgage with Nationwide themselves.
If you have equity in your property and family members you would like to support, this could be the ideal remortgage option for you. However, it is not the only option as other lenders offer a variety of products. One of these products could serve your particular circumstances much better.
To discover which mortgage product is the best match to your circumstances, consult with Deal Direct.
As a ‘whole of market’ broker, our team can advise you on remortgage products from across the UK, including ones that are offered as ‘specials’ via broker channels only. We’ll make a short-list of the best ones for you and compare them, like-for-like, so you can make the best choice possible.
Your family and home are likely to be your highest priorities so make sure you obtain the best possible remortgage and contact Deal Direct.
One of our experts is waiting to take your call on 0800 048 8828.
