Buy a home without a deposit (but with a lot of help from mum) | Money

Very first-time prospective buyers without a deposit have a new opportunity to get on the house ladder.

Beverley Building Society this 7 days introduced a 100 per cent financial loan-to-worth property finance loan for 1st-time customers — so long as a household member puts up their home as collateral in its place of a deposit.

The three-12 months offer has a variable level of 2.75 for every cent (which can rise or fall in line with the Lender of England base charge), and a product payment of £800. You will also have to have an unbiased valuation of the assets you are acquiring and in some cases the home getting made available as collateral far too.

Beverley Building Modern society would secure 20 for each cent of the price of the home being procured in opposition to the family member’s property for eight