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Barclays springboard can use existing offset funds.
getmore4less
Posts: 46,882 Forumite
If you have a Barclays offset mortgage you can use the offset funds to help out someone else by using those funds as the 10%. in a springboard mortgage
The funds remain offsetting your own mortgage but do get tied up for 3 years.
There is a risk that if the family member defaults these funds can be used to make up shortfalls but better than a guarantee which has you liable for 100%.
if the funds are not offset they get 2%
The funds remain offsetting your own mortgage but do get tied up for 3 years.
There is a risk that if the family member defaults these funds can be used to make up shortfalls but better than a guarantee which has you liable for 100%.
if the funds are not offset they get 2%
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