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Lend a Hand Mortgages
v_confused
Posts: 2 Newbie
I am a first time buyer based in London with enough deposit saved for a good go at the Family Deposit/Lend a Hand/Family Springboard type mortgages offered by Lloyds, Barclays, Market Harborough, etc.
I am in a secure, well-paid job with a good credit rating. My parents are happy to lock away the 20% into a savings account for 5 years. All good so far!
The problem is my parents are resident in the Republic of Ireland. The T&Cs for the deposit savings account stipulate they have to be UK residents. The assistant at Barclays, who asked if RoI is "abroad", said this was a government stipulation because it's a government scheme. Unfortunately, no London councils are participating in the Local Lend A Hand scheme.
Does anyone have ANY suggestions?
I can't leave London for the foreseeable future. Apart from asking a friend to be my 'helper' and my parents putting the cash through them, is there any way to get around this? I can't find any Irish banks offering ex-pat mortgages... but maybe I've missed one?
I am in a secure, well-paid job with a good credit rating. My parents are happy to lock away the 20% into a savings account for 5 years. All good so far!
The problem is my parents are resident in the Republic of Ireland. The T&Cs for the deposit savings account stipulate they have to be UK residents. The assistant at Barclays, who asked if RoI is "abroad", said this was a government stipulation because it's a government scheme. Unfortunately, no London councils are participating in the Local Lend A Hand scheme.
Does anyone have ANY suggestions?
I can't leave London for the foreseeable future. Apart from asking a friend to be my 'helper' and my parents putting the cash through them, is there any way to get around this? I can't find any Irish banks offering ex-pat mortgages... but maybe I've missed one?
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