Connells announces 100% Family Guarantee mortgage

To help these buyers, Connells estate agency has announced a new mortgage product allowing purchasers to borrow 100 per cent of the value of their chosen property.

This exciting launch of a new 100 per cent Family Guarantee mortgage allows first and second-time buyers to buy a home, subject to a guarantee from an immediate family member in the form of a secured collateral charge on their property.

The guarantee covers up to 25 per cent of the mortgage amount, enabling the buyer to purchase a home without the need for a large deposit.

“This is one of the first 100 per cent mortgage products since the credit crunch and it couldn’t come at a better time,” said a spokesman for your local Connells branch.

“Saving for a deposit and getting a mortgage have been the most significant stumbling blocks for first-time buyers over the last few years so our new 100 per cent Family Guarantee product will help countless buyers get on the property ladder.”

As well as helping first-time buyers, Connells’ new 100 per cent mortgage could enable second-time home movers who may need to upsize but lack the necessary capital to put a deposit on their next home.

“Dwindling house prices have caused some homeowners to become stuck without the means to make their next move,” said the Connells spokesman.

“This new mortgage will allow parents, stepparents and grandparents to help their children move home without the need to lend or gift them a large amount of money for a deposit.

“Instead, they can guarantee up to 25 per cent of the loan against their own property.”

If you are interested in Connells’ new 100 per cent mortgage product and would like to book an appointment with a mortgage consultant, please contact one of the following:

Leamington Spa - Kelly Penn - 01926 881441

Kenilworth - Amy Nash - 01926 857461

Warwick - Andrew Stacey - 01926 403308