Family Deposit Mortgage - Terms & Conditions

More information relating to our Family Deposit Mortgages is below. If you can’t find the information you’re looking for, you can talk to one of our specialists through Broker Chat.

Check our Family Deposit Mortgage definitions, including Family member, Helper and Buyer

  • Family members are classified as being a spouse, civil partner, parent, brother, sister, child, grandparent, grandchild or someone whose relationship has the characteristics of a family relationship.
  • For the Helper to be eligible for this product, the Buyer must be purchasing their main residential property with a Nationwide mortgage.
  • The Buyer must obtain a valid Decision in Principle (DIP) with Nationwide and provide a copy to the Helper.
  • The Helper will need to provide you with a copy of the Buyer’s valid DIP before you can submit the Full Mortgage Application. The DIP will be used for validation purposes only.
  • The Helper must be remortgaging with capital raising from our Family Deposit Mortgage range.
  • The additional funds raised by the Helper through the Family Deposit Mortgage must be wholly gifted and can’t be loaned to the Buyer.
  • We may amend or withdraw the Family Deposit Mortgage range at any time and without notice.
  • In addition to our standard mortgage eligibility, the following also applies:

  • All of the additional funds raised through the Family Deposit Mortgage must be gifted towards the Buyer’s Nationwide mortgage and can’t be used for any other purposes.
  • The maximum LTV for the Helper is 80% (Remortgage with capital raising or capital raise on a mortgage free property). This is set by the additional borrowing purpose.
  • Transactions for the Helper and Buyer will be carried out separately.
  • The Buyer can select any product from the standard mortgage range, subject to the usual criteria and affordability requirements.
  • Standard gifted deposit policy rules will apply and the Buyer will need to complete and submit a Gifted Deposit form.