Since September 2020, the current national average house price is at a high of £245,000 according to the Office of National statistics. On top of this the average deposit size in the UK is around 10-15%. This can make initially getting on the property ladder a difficult first step.

When possible, parents or close family members are eager to help their children get on the property ladder.

In a recent case, our clients required a net loan of £150,000. The funds are to be gifted to their daughter to help towards the purchase of her new home.  The security property has been valued at £315,000 and is currently sold STC. Once the sale of the security property completes, the clients will pay back the loan facility in full.

The net LTV is 47% with an interest rate of 0.75%. The terms for the loan are for 12 months.

To get in touch and discuss your case, send an enquiry to our team or give us a call on 0121 233 1188.