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Bank of Mum and Dad: Alternatives to 95% mortgages

Bank of Mum and Dad: Alternatives to 95% mortgages

If you are a first-time buyer with only a 5 % deposit, you may feel your home ownership dreams are crumbling before your eyes. But there may be hope. Before you throw in the towel – take a look at some of these options you might not have considered First-time buyers who are struggling to find a mortgage because of the current lack of deals for those with a 5% deposit could benefit from investigating some lesser known borrowing avenues. The Bank of Mum and Dad, although not open to everyone, could be still be worth exploring even for those borrowers who think their parents might not hold the key to their property buying dreams. For there are several products out there which allow parents to support their children without losing or giving up too much of their vital income or saving themselves. This week researchers at Moneyfacts.co.uk have taken a look at ways in which first-time buyers and the so-called Bank of Mum and Dad could work together and – either one or both – potentially come out with a gain.

Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…

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Credi the #1 lending management platform for friends family & their business

Formalise and manage your loan agreements online with Credi. Trusted by over 7,000 people worldwide. Takes minutes to set up

Use Credi for FREE – for all loans up to  A$5000, $5000 / €5000,  £5000 . Loans over cost A$20, $20, €20,  £20  or other other local currency amounts (sales tax may apply).

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