New scheme offers bigger mortgages with family help but some experts say be wary
In the past, parents might have acted as guarantors for the mortgages of adult children – however, these new schemes go much further.
Dariusz Karpowicz, Director at Albion Financial Advice, called on other lenders to follow suit.
“Extending income booster options to friends and extended family is a smart way to fill a gap in the market, making homeownership more accessible for many,” he said.
“This approach is especially helpful for first-time buyers and those struggling with affordability, and its popularity is likely to rise in the coming years.”
Link to full article: https://www.express.co.uk/finance/personalfinance/1925006/dream-home-income-mortgage-application