"Our Family Assist Mortgage offers a solution to those who have family members in a position to help secure a loan."
Buckinghamshire Building Society is enhancing its Family Assist mortgages to help first-time buyers take their first step onto the property ladder.
The Family Assist product range has been expanded to include discount and fixed rates. It will also allow a desktop AVM on the parents’ property (subject to conditions), to help reduce the overall cost.
The Society says it remains committed to offering first-time borrowers the option of taking out a loan for 100% of purchase price with certain conditions.
90% and 95% LTV mortgage product choice remains at just a tenth of the levels seen in March before the Covid-19 lockdown period began, according to the latest figures from Moneyfacts.
Tim Vigeon, head of lending at Buckinghamshire Building Society, said: "This is a tough time for first-time buyers who already find it hard to get onto the property ladder. Our Family Assist Mortgage offers a solution to those who have family members in a position to help secure a loan. We also offer repayment terms of up to 40 years helping to lower the monthly cost of the mortgages.
“We are fully committed to first-time buyers and intend to keep our Family Assist product in place.”