Buying your first home with family help
Our Family Values programme makes it simple for one generation to help the next when buying their first home.
Three ways to help you own your home
Our Family Values programme makes property ownership a reality by encouraging one generation to help with a deposit contribution.
From taking an equity stake in your property or making a straightforward cash gift to boost your deposit, it’s up to them how they help. We’ll sort all the paperwork and even create an incentive, so their money goes further.
1. Deposit Stake
Ready to buy a home, but need help with your deposit?
By speaking to your independent mortgage advisor, you could access specialist lending that allows a family member to contribute to a mortgage deposit. This would then get transferred into an equity stake in your home.
It’s great for your helper as well as you. They won't go on the property deeds and it doesn't impact stamp duty status, but they’ll still own the equity stake in your home.
How much would you pay with Deposit Stake?
- £1,262* monthly mortgage repayments.
- Based on a £300,000 Full Market Value plot with a 25% deposit on a 4.59% rate mortgage.
- You could save up to £404 per month*.
2. Deposit Unlock
Deposit Unlock means you could buy a new home with just a 5% deposit and a 95% mortgage, available to first-time buyers and existing homeowners.
With as little as a 5% contribution, a close family relative can do a straightforward cash gift to help you reach your target.
3. Deposit Boost
If the size of your deposit is holding you back from buying the home you want, our Deposit Boost scheme may be the answer.
If you have a 10% deposit, either raised entirely yourself or through a cash gift of part or all the amount, Latimer will boost this with another 5% contribution.
This will then help you reach most high street mortgage lenders’ minimum deposit requirements of 15%.
Example purchase of a new home with our Deposit Boost:
- Your 5% deposit.
- Your 5% cash gift.
- Latimer 5% Deposit Boost.
- Your 85% mortgage.
| Note: not applicable to shared ownership properties. Terms and conditions apply*. See below. |
Find out more about Family Values
Register your interest in one or more of our eligible developments. It will put you in touch with our sales advisers
Help to Own eligible developments
Furness Quay
Salford M50. One, two and three bedroom new-build apartments and townhouses in the heart of Salford Quays.
High Definition at Media City
Media City, Salford M50. Two and three bedroom apartments in a tranquil oasis close to The Quays waterfront.
The Cocoa Works
York YO31. One, two and three bedroom apartments. A regeneration of York's famous garden factory - the Rowntree Factory.