What is the Family Springboard Mortgage?
Well, the mortgage is offered by Barclays Bank and it’s designed to help those looking to buy their own home and get onto the property market when they have little or no deposit to put down. The Springboard Mortgage works in conjunction with a third party (perhaps a friend, family member or such) who is required to lodge a capital sum equivalent to 10% of the purchase price of the property into a ‘Helpful Start Account’.
The cash introduced to the account attracts interest for the ‘helper’. The capital is tied up for 5 years. In effect, it is additional security against the mortgage. The balance in the Helpful Start Account would attract interest, currently at 1.61% AER. This is a relatively attractive return when compared to savings accounts.
The buyer may also introduce their own deposit of up to 5% of the property’s purchase price. There is no need to put down a deposit if the cash introduced to the Helper’s Account is sufficient. The maximum loan is £500,000.
As the homeowner, you continue to own the home yourself, subject to the mortgage, and in 5 years the ‘helper’ receives their capital sum back, plus interest, as long as the borrower has not missed payments or otherwise breached the terms of the agreement.
For more information please contact us on 01628 507477.
Recent posts
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Maidenhead, Berkshire – 26th January 2026 – Dedicated independent mortgage experts, Mortgage Required, are delighted to have acquired fellow experienced brokerage, Y-Not Finance.
The acquisition connects two well-respected brokerages, both with a wealth of experience and shared values, to continue providing the best advice on all aspects of the mortgage market.
As part of the UK government’s plans to change the leasehold system to help families struggling with unaffordable ground rent costs.
The Prime Minister announced this morning (27 January) that ground rents will be capped at £250 per year, reverting to a peppercorn rate after 40 years.
Additional borrowing, also known as a further advance, is when you borrow more money on your existing mortgage for a specific reason agreed with your lender.
Here are five of the most common reasons for additional borrowing.
UK Housing Market Round-Up: 2025
30 Dec 2025
Property search site Zoopla has estimated that the UK housing market will end 2025 with approximately 1.15 million completed sales – 4.5% more than the previous year.
Take a look at the 2025 summary of the UK housing market.
Buying in the New Year
29 Dec 2025
If buying your first property, or moving home, is on your to-do list this year, the new year can be a great time to take this big step. In this short blog, we look at what you need to consider as you plan and prepare for your home-buying journey.
Just because the Bank of England decides to reduce the base rate, this doesn't automatically mean that your mortgage rate will go down.
Autumn Budget 2025: A Summary
26 Nov 2025
Chancellor, Rachel Reeves, has delivered the Autumn 2025 budget. We have summarised the government's plans for tax and spending.
More information
Trusted by
