Generation Home is a niche lender who has come to the market with criteria which will assist some buyers we may otherwise have struggled to transact with. Their main business area is along the lines of the traditional Joint Borrower Sole Proprietor mortgage however in addition GH allow up to 6 applicants on one mortgage application and will allow the eldest applicant to remain on the mortgage until they reach age 85.
Their second key advantage is that they will allow non-family members, including friends, to gift or even lend deposits. Legal agreements can be drawn up to protect the individual lending the money and they can either lend the deposit interest free or even by way of an equity share building up equity in the property.
MORTGAGE MARKET UPDATE: 21st June 2023