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Mortgage for children

Date: Wed, 12 Oct 2005

Mortgages for children are designed to help their parents improve the level of money that their children can borrow, allowing them to put their salaries towards a percentage of the overall mortgage. They are available in the marketplace by a number of different lenders.

Depending on the lenders specific criteria it is likely that the child will need to be able to cover anywhere from around 75% and 90% of the properties value given their own incomes the extra required being borrowed against the parent’s income.

Mortgages for children literally mean that the parent is responsible for the mortgage but will not need to part with any cash and if their offspring defaults on their repayments the parent’s will become liable to pay.

If, after a period of time the child’s circumstances change and they are able to take on the full mortgage amount they will usually able to do so without penalty.

Mortgages for Children from Endsleigh Financial

If you are currently interested in the benefits of a mortgage for you child or simply want to discuss your situation further please click here and fill in our short mortgage quote form.

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Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.