With a busy job and a partner expecting their first child, Mr Griffiths was too busy to explore his options further.  Instead he enlisted the help of our mortgage broker, who offered a first start mortgage: a unique way of taking one parent’s income, deducting annual mortgage payments and commitments, and proceeding to multiply the income jointly between father and son.  

With this type of mortgage, the parent or guardian will jointly apply for the mortgage and feature on the mortgage deed.  Together with the first applicant, they are severally and wholly liable for the mortgage.

Worked Example:

Parents income £40k

Less annual mortgage repayment £3240

Balance = £36760

Plus Buyers Income £19380

Maximum advance = £252,630  

With a 28 day exchange in place from Britain's premier house builder, we made sure the mortgage was in place to meet the schedule.

Savannah Financial Services is an Appointed Representative of Thinc Assured Network Ltd, which is authorised and regulated by the Financial Services Authority.   Not all loans are regulated by the Financial Services Authority. There may be a fee for mortgage advice. The precise amount will depend on your circumstances, although the maximum fee will not exceed 1.5% of the loan amount.