How Parents Can Help You Buy a Home with a Family-Assisted Mortgage

For many first-time buyers, the hardest part of getting on the property ladder isn’t the monthly repayments — it’s saving the deposit.

With rising house prices and high rents, parents are increasingly stepping in to help.

But it’s not always about handing over cash. Family-assisted mortgages let parents use savings or property equity to help without losing control of their money.

Here’s how they work, what the options are, and how Mortgage Knight can help you find the right setup for your family.

What Is a Family-Assisted Mortgage?

A family-assisted mortgage is designed for buyers who can afford the monthly repayments but don’t have a large deposit.

Instead of gifting money, a parent or relative supports the mortgage in one of these ways:

Using savings as security
Offering property equity as a guarantee
Acting as a joint borrower (without owning the home)

This allows buyers to access better rates and higher borrowing, while parents keep their assets safe.

Main Types of Family-Assisted Mortgages

Family Springboard Mortgages

Lenders such as Barclays offer these products where parents place 10% of the purchase price into a linked savings account for 3–5 years.

If the borrower keeps up repayments, parents get their money back (plus interest).

No need to gift funds permanently
Keeps the property solely in the buyer’s name

Joint Borrower, Sole Proprietor (JBSP) Mortgages

A Joint Borrower, Sole Proprietor (JBSP) mortgage allows parents’ income to be included in affordability checks without adding them to the property deeds.

This means parents can help their child borrow more — without incurring additional stamp duty or ownership obligations.

Ideal if parents have a stable income but don’t want to co-own
Suitable for helping children boost affordability safely

Lenders currently offering JBSP mortgages include:

Skipton Building Society
NatWest
Clydesdale Bank
Barclays

Each lender has different rules around age, income, and exit strategy — which Mortgage Knight can explain in detail when comparing your options.

Guarantor Mortgages

Parents act as guarantors, agreeing to cover repayments if the borrower can’t.

This gives lenders extra confidence and helps first-time buyers secure approval even with smaller deposits.

Widely accepted by specialist lenders
Parents should understand the financial responsibility involved

Benefits for Buyers and Parents

For buyers:

Lower deposit required (as little as 0–5%)
Access to better rates
Full home ownership maintained

For parents:

Can help children without gifting money permanently
Funds or property remain under their control
May earn interest if savings are held in linked accounts

Key Things to Consider

Before proceeding, both buyers and parents should think carefully about:

Affordability checks: Both parties’ finances will be assessed.
Legal advice: Especially if using equity or savings as security.
Exit plan: Understand when parental funds or guarantees will be released.

Mortgage Knight works with lenders who handle these cases sensitively and transparently, ensuring both sides feel protected.

How Mortgage Knight Can Help

Every family’s situation is different — and not all lenders offer the same flexibility.

We’ll help you:

Compare family mortgage options from over 90 lenders.
Understand the risks and rewards of each setup.
Handle the process smoothly between buyer, parent, and lender.

Whether you’re using savings, income, or property equity, we’ll find the best route to homeownership for you.

Case Studies

Case Study 1: Daniel – Family Springboard Support

Daniel’s parents placed £25,000 into a savings account linked to a Barclays Family Springboard Mortgage. After five years, they got their money back — and Daniel owned his home outright.

Case Study 2: Emma & Her Mum – JBSP Arrangement

Emma’s income fell just short of affordability. Mortgage Knight arranged a JBSP mortgage with Skipton Building Society, using her mum’s income. Emma is the sole homeowner, and her mum’s name helps only with lending power.

Case Study 3: The Patel Family – Using Property Equity

The Patels used equity from their existing home to help their son buy a flat. We sourced a guarantor mortgage that didn’t require cash upfront and released the charge after three years of on-time payments.