29 Apr 2025
The Family-Backed Mortgage from NatWest
High street lender, NatWest, have launched a new product to help first-time buyers purchase a property with assistance from a family member or friend to get them on the property ladder sooner.
What is the NatWest Family-Backed Mortgage?
Similar to the ‘Mortgage Boost’ from Barclays and the ‘Income Booster’ from Skipton, this scheme allows the buyer to add a second person to the mortgage but without them actually owning the property. By adding a second person to the mortgage as a ‘non-owner’, the main applicant/owner can borrow more and remain the sole owner of the property.
Criteria
- Must have an income of at least £20,000 gross per annum for the main applicant/owner
- Standard residential mortgage policy rules apply to all applicants, including eligibility criteria of minimum 18 years to maximum 75 years of age
- Maximum of two applicants: the owner and non-owner
- Not available with mortgage schemes e.g. Right to Buy and Shared Ownership
- Only applicable for Residential Purchase Products
- The non-owning borrower must seek independent legal advice before completion
If you have any questions about this scheme and would like to see if you fit the criteria, or would like to discuss another product, please give our team a call on 01628 507477.
Recent posts
The average age of a first-time buyer in the UK is two years older than 10 years ago. This is understandable with managing the cost-of-living and challenges within the economy such as high interest rates making it difficult to get onto the property ladder.
Delayed Start Mortgage from Skipton
6 days ago
Skipton Building Society launches ‘Delayed Start’ mortgage meaning first time buyers won’t be required to make repayments for the first three months.
According to a survey by Skipton, first time buyers who bought their home in the last five years found that in the first three months of living there, they were spending upwards of £30,000.
Gardening Tips for Beginners
11 days ago
If you have recently moved into a property with a garden that requires a little TLC, or you’d like to get on top of your current green space, check out our tips.
The Impact of Klarna on Mortgage Applications
15 days ago
‘Buy Now, Pay Later’ (BNPL) schemes, such as ‘Klarna’ are short-term loans that allow shoppers to make a purchase, but delay paying for it for an agreed amount of time.
Klarna is one of the most popular BNPL services with 18 million customers in the UK alone, and offers interest-free payment options which is appealing to shoppers. However, does it affect a mortgage application?
Buy to Let mortgages: what's happening?
20 days ago
We look at how to get the best Buy to Let mortgage rate, what's in store going forward, and options as a landlord with increasing costs.
UK mortgage rates following Trump’s Tariffs
14 Apr 2025
Throughout this past week, lenders have continued to reduce their mortgage rates giving borrowers in the UK some welcome news following the change in global tariffs under US President, Donald Trump.
Effective ways to relieve stress
14 Apr 2025
Did you know that buying a house, or relocating is in the top 10 most stressful life events?
Stress of course is an unavoidable part of life and there are many reasons why people experience stress, not just buying a house!
There are lots of effective ways to manage and reduce stress, check out our tips to help you.
With the stamp duty relief ending in England and Northern Ireland, we have listed the top 10 cheapest areas for first-time buyers as published by Rightmove.
More information
Trusted by
