With mortgage product rates at or close to record low levels, and current market conditions favourable for buyers, it’s an ideal time for those who want to purchase their first property or trade up to a larger home.

Sometimes however, a helping hand is essential to make the numbers work. Whilst many are familiar with the concept of ‘gifting’ capital to assist with a loved one’s purchase, that’s not always practical. The same lump sum may be required to save for retirement, or indeed a rainy day.

However, now it’s possible to utilise capital sat in a savings account earning little interest to help a family member or close friend move home without gifting them funds.  Thanks to an innovative range of new mortgage products, an amount can be lodged in a dedicated savings account for a specific period of time – for example, two or three years – which then depending on the amount, can either count towards or totally form the deposit required to raise a mortgage. At the end of designated period of time, the savings are released back to you.  Better still, you earn interest on them too!

It’s a great way to help someone you know take advantage of the current market without having to give away your nest egg.

Interested?  Our expert team of advisors are on hand to explain these products to you in more detail, either over the phone or in person at our Cheam offices.

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