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Family Mortgage – What would your repayments be?

The Family Mortgage allows you to combine a 5% deposit with assets from your family to buy a place of your own.

Use our calculator to give you an idea of what your monthly repayments would be with our Family Mortgage on either a three or five year fixed rate.

Key points to keep in mind

  • For the Family Mortgage you must have at least a 5% deposit.
  • The assets your family contribute to the mortgage must bring the total deposit up to 25%.
  • You can have up to 12 family members contribute to additional security with the Family Mortgage.
  • You can use any combination of the three additional security options to bring your total deposit up to 25%.

Property value:

£

Deposit (this must be at least 5% of the property value):

£

Mortgage term (years):

 

In which region are you looking to purchase a property?

 

Additonal security

The results from our calculator are for illustrative purposes only. It is not a mortgage offer or guarantee of receiving a mortgage offer. Before a mortgage offer is issued, a full mortgage application must be submitted. This will be assessed for evidence of affordability and underwritten, ensuring our lending criteria are met.

Return to Family Mortgage home page.



Representative example:

A mortgage of £255,000 payable over 25 years initially on a fixed rate for 3 years at 2.69% and then on our variable Managed Mortgage Rate, currently 4.54%, for the remaining 22 years would require 38 monthly payments of £1,168.53 and 262 monthly payments of £1,392.80, plus one initial interest payment of £565.08.

The total amount payable would be £410,831.82 made up of the loan amount plus interest £154,957.82 and an application fee of £175 which includes a valuation fee, a product fee of £599 and a mortgage exit fee of £100.

The overall cost for comparison is 4.2% APRC representative.

THE MORTGAGE WILL BE SECURED ON YOUR HOME


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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Family Building Society
Ebbisham House
30 Church Street
Epsom
Surrey KT17 4NL
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