Helping your Family

With house deposits in the UK now averaging in at £33,127, first-time buyers are more dependant than ever on the Bank of Mum and Dad (BoMaD), with more than a third (34%) receiving financial help from a gift or loan from parents. In 2019, this average contribution from families and friends has skyrocketed by more than £6,000 to £24,100.

Using a lifetime mortgage can release equity to help family members pull together a deposit. The money could also help with some of the initial costs, like furnishing their new home, solicitor fees and removal costs or any of the following:

  • Paying for a childs wedding.

  • Taking your family on a dream holiday.

  • Helping a child or grandchild with school or university fees.

  • Helping your child through the legal process of a divorce.

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Chadwick Financial Management is a trading style of Yorke Finance Ltd, which is authorised & regulated by the Financial Conduct Authority 756100

Company registered in England and Wales no. 06005593

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY LOANS SECURED ON YOUR PROPERTY.

Please remember that a lifetime mortgage may not be right for you To understand the features and risks, ask for a personalised illustration.
You must be a homeowner and over 55 years old to qualify. A lifetime mortgage may affect your right to means tested state benefits and will reduce the value of your estate.

Our advisers can help discover if a lifetime mortgage is right for you.
Your home may be repossessed if you do not keep up repayments on your mortgage

Business Office: Chadwick House, Hauley Road, Dartmouth, Devon, TQ6 9AA.