NatWest International has unveiled its new Family-Backed Mortgage.
The innovative product is designed to help first-time buyers overcome affordability barriers and achieve their home ownership goals.
The launch reflects NatWest International’s ongoing commitment to expanding pathways to home ownership and is being rolled out across Jersey, Guernsey, Isle of Man, and Gibraltar.
The Family-Backed Mortgage responds to a growing trend of more adult children moving back home to save for a house deposit, often delaying the ‘Empty Nest’ phase for parents who are themselves preparing for retirement.
Recognising this shift, NatWest International has developed a solution that allows family members or close friends to contribute to a mortgage application without taking on ownership of the property.
Richard Steel (pictured), Managing Director of NatWest International, Retail and Commercial Banking said: “We are committed to providing more pathways to home ownership and helping first-time buyers to achieve their goals.
“Today’s launch of the Family-Backed Mortgage boosts the borrowing power of prospective homeowners by enabling them to combine incomes with a family member or friend, while retaining independence to own a home in their own name.”
