A fresh approach to mortgages

Jacob, 29, bought a house with his girlfriend when they were in their mid-20s. But as their 30s approached, they decided to part ways – and the mortgage was unaffordable for Jacob on his own. Jacob’s Dad, Richard, 58, joined the mortgage as an income booster, increasing what he could borrow, and the ejector seat meant Jacob could get the 35 year term he needed to stay on the ladder.

Loan amount: £197,011

Mortgage term: 35 years

Meeting affordability can take a village. Ricky, 30, a limited company owner, and Erin, 33, who receives benefit income, were ready to buy a home to start their family. We used Ricky’s latest year’s accounts and accepted all of Erin’s benefit income, while Erin’s parents, Janice and Michael, both 59, joined the mortgage for an extra affordability boost. The ejector seat meant Ricky and Erin could get the term length they needed to keep their payments affordable.

Loan amount: £358,100

Mortgage term: 32 years 3 months

Sanjit has worked in the construction industry his whole life. A few years ago, he decided to start his own business, and at 47, had finally saved enough to purchase his own home with a 10% deposit. To help keep Sanjit’s monthly payments affordable, we were able to offer a 23 year term, taking him to age 70 at the end of the mortgage.

Loan amount: £152,001

Mortgage term: 23 years

Stefan, 43 and Maria, 37 were coming to the end of their skilled worker visas with just 1 year remaining on their right to work. With their 10% deposit and Stefan’s second job, we were able to lend what they needed to buy a home they loved.

Loan amount: £247,668

Mortgage term: 32 years