Halifax offers mortgage for parental deposit

Halifax has followed other lenders, such as Barclays and Lloyds Bank, in offering 100% mortgages loans to customers who have parental support. It has launched a new mortgage which does not require prospective first-time buyers to have a deposit of their own. Instead, parents are asked to save the equivalent of a 10% deposit in cash with the bank. By saving in this linked account, their children will be eligible for a Halifax Family Boost mortgage, a three-year fixed-rate deal at 2.9% that comes with cashback and no fees.

The Daily Telegraph (12/09/2019)