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
- You can have up to 12 family members contribute to additional security with the
- You can use any combination of the three additional security options to bring your
total deposit up to 25%.
Mortgage term (years):
In which region are you looking to purchase a property?
Return to Family Mortgage home page.
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.