Tipton launches 100pc family mortgage

Mortgage Introducer

September 24, 2015

The mortgage has a variable rate of 3.99% which runs over the entire term after a valuation of both the purchase property and the family member’s property is completed.

Richard Newton, the Tipton’s chief executive, said: “There are many families out there who want to help a relative get onto the property ladder.

They may not have cash readily available for a deposit but do have a property that can be used as security, provided borrowers can afford the monthly repayment.”

Typical first-time buyers require a £32,000 deposit to buy their first home according to the latest Genworth/Moneyfacts data.

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