Principality Building Society has unveiled a range of residential mortgage products which allow parents, step-parents and grandparents to join their child or grandchild on their mortgage.
The Joint Borrower Sole Proprietor residential products will accept parents or grandparents’ income in the affordability assessment without needing to be on the title deeds and jointly owning the property.
The products offer a LTV of up to 90% with the lowest interest rate at 2.65%.
Up to four applicants can be accepted on the mortgage with no required minimum income for the application and no exit strategy.
Helen Lewis, national account manager at Principality Building Society, said: “We are delighted to be offering this deal to our brokers.
“Our flexible criteria and approach to underwriting will help younger borrowers get onto the property ladder with the assistance of their families.”