Hinckley & Rugby launch joint borrower sole proprietor mortgages.
The Hinckley & Rugby Building Society has announced the launch of joint borrower sole proprietor mortgage deals, for both buy to let and residential and mortgage borrowers.
The idea is to help parents assist children to buy property without a second charge on the property purchased. To be eligible for this deal, residential buyers will need a 5% deposit and buy to let buyers 25%.
The lender will allow the borrower’s income to be boosted by that of their parents or a guardian. It will for part of the application and loan, without needing to be included on the title deeds and or lodging their savings with the lender.
This could offer buyers a life line when buying a home, as it can take years of the time they would actually need to purchase property.
If you want to buy a home and are struggling to save for a large deposit call us at Deal Direct. We can make a review of your finances and available deposit to see what mortgage products you could be eligible for.
For advice and a low rate quote, call us today and let us help you climb on the first rung of the property ladder.
Speak to an adviser on 0800 048 8828.
