Barclays Family Springboard Mortgage?

ACG

Is your dad going to give you the deposit or "just" offering to lend it you?

If its an actual gift there could be other ways around getting you on the property ladder.

bananz

Hi again! It'll be a gift (basically to be taken off my inheritance when the time comes). Thanks so much for your continued help x

ACG

If you go and speak to a Mortgage Advisor, they will be able to help with this. It depends on the credit report but i imagine there will be a way to get you where you want to be.

Daniel54

Depending on your father's age and inclination,it may be worth looking at the Coventry BS Step up scheme - which involves him taking a share in the mortgage but he only has to make payments if you do not.It would nvolve him in obligations of which he should make himself aware,but Coventry's definition of adverse credit history is looser than Barclays.

I am the Dad in this instance and my son does not have an adverse credit history.My own mortgage was with the Coventry and I have always found them very helpful and efficient

bananz

Thanks very much Daniel54, but unfortunately my dad is already 70 and retired which I think excludes him from acting as guarantor. Thanks for taking the time to reply though - much appreciated! x

getmore4less

The current springboard offering is a 95% mortgage at 4.69 % followon 4.49% with £499 fees if not a customer*.

The 10% helper security get 2% interest and is locked for 3 years
(or can be funds in an existing Barclays offset mortgage)


* To qualify for Barclays loyalty mortgages, customers must have an open and active Barclays Personal current account that has been credited with a minimum of £800 in each of the last three months.

Daniel54

Bananz,hope you find what you are looking for.Good luck

justtinw

Does anyone have any experience of the springboard mortgage?

MT39

Can anyone help me - if I am self employed and have been for just under two years does this mean I wouldn't be considered for a Springboard mortgage with Barclays? I am thinking of approaching my family to help me with this but as a single parent the mortgage would have to be in my name. I would be a first time buyer with good credit history and rental history.