Barclays 'sprigboard' & Lloyds 'Lend a Hand'

greenern1

Hi, I have just heard about the new Barclays and Lloyds mortgages which involves parents helping their children get onto the property ladder. Are they as simple as they sound and are they really a good idea? Having only just heard about them your comments would be appreciated
Thank you

bigadaj

They are effectively guarantor loans so fairly straightforward. You would probably be best getting details of the scheme and then asking about any specific queries here, general questions don't often get relevant responses.

getmore4less

Just compare the offer with others and see if they are competative for your situation.

Barclays is a 95% 3 year fixed rate mortgage at 4.69%

The 10% security gets 2% but is locked in for 3 years minimum.

getmore4less

bigadaj wrote: »

They are effectively guarantor loans so fairly straightforward. You would probably be best getting details of the scheme and then asking about any specific queries here, general questions don't often get relevant responses.

WIth a big difference the guarantee is 10% not 100% in barclays case.