Family boost mortgage

Quickgirl

I have been looking at family boost mortgage schemes with Halifax to help my son. Has anyone had any experience of this? As an investor it seems good but wondered what other users experiences have been like.

Thrugelmir

If you prepared to accept the fact that your capital is potentially at risk. Then the scheme does what it says on the tin.

ACG

As an investor? I am not sure it is good for an investor, there are better savings products out there without the risk but yes, its not a bad deal, they could quite easily offer 0.01% interest and it would still be a good product because of its main aim.

dimbo61

What are the mortgage rates with the family boost mortgage ?
I can see they are offering 2.5% for the 10% you need to put in the saving account.

jimmyjammy001

These types of mortgages are aimed at nieve parents to help their off spring out, prices are at an all time high and there is a currently a stall in the housing market and banks/building societies are desperate to get people on mortgages, if this was not the case then why have they not offered these family mortgages several years ago. It would be very risky giving money this way imo.

[Deleted User]

jimmyjammy001 wrote: »

These types of mortgages are aimed at nieve parents to help their off spring out, prices are at an all time high and there is a currently a stall in the housing market and banks/building societies are desperate to get people on mortgages, if this was not the case then why have they not offered these family mortgages several years ago. It would be very risky giving money this way imo.

Barclays have offered this for over 6 years now. Does that qualify as 'several years ago'?