Family help with buying your first home
At Latimer, we want to make it easier than ever to own your home for the very first time. In fact, it’s something we’re passionate about – and dedicated to. And because your family values helping out the next generation, so do we.
Three ways to help you own your home
Our Family Values programme makes property ownership a reality by encouraging one generation to help the next with a deposit contribution that gets you started on the housing ladder.
From taking an equity stake in your property for the longer term, or making a straightforward cash gift to boost your deposit, it’s their choice. We’ll sort all the paperwork with them and tailor an incentive to suit, so their money goes even further.
Now, when it comes to making an investment in the future, we’re here for you, here for them, and here for generations to come.
With Latimer, it’s all relative.
1. Deposit Stake
Ready to buy a home, but need help with your deposit?
By speaking to your independent mortgage advisor, you could access specialist lending that allows a family member to contribute to a mortgage deposit that gets transferred into an equity stake in your home.
It’s great for your helper as well as you. They won't go on the property deeds and it doesn't impact stamp duty status, but they still own the equity stake in your home. The money is not gifted away.
How much would you pay with Deposit Stake?
- £1,262* monthly mortgage repayments.
- Based on a £300,000 Full Market Value plot with a 25% deposit on a 4.59% rate mortgage.
- You could save up to £404 per month*.
2. Deposit Unlock
Deposit Unlock means you could buy a new home with just a 5% deposit and a 95% mortgage, available to first-time buyers and existing homeowners.
With as little as a 5% contribution, a close family relative can do a straightforward cash gift to help you reach your target.
3. Deposit Boost
If the size of your deposit is holding you back from buying the home you want, our Deposit Boost scheme may be the answer.
If you have a 10% deposit, either raised entirely yourself or through a cash gift of part or all the amount, Latimer will boost this with another 5% contribution.
This will therefore enable you to reach most high street mortgage lender’s minimum deposit requirements of 15%.
Example purchase of a new home with our Deposit Boost:
- Your 5% deposit.
- Your 5% cash gift.
- Latimer 5% Deposit Boost.
- Your 85% mortgage.
|Note: not applicable to shared ownership properties. Terms and conditions apply*. See below.
Talk to your sales adviser today
Find out more:
- Register your interest in one or more of our eligible developments. It will put you in touch with our sales advisers.
- Read our Family values guide (PDF) in full.