Getting on the property ladder has never been easy and in today’s market, it can feel harder than ever.
High house prices, rising rents, and tighter affordability rules have left many first-time buyers stuck on the sidelines.
But at Beverley Building Society, we’re doing things differently. We believe in real solutions for real people. That’s why we’ve innovated to help first-time buyers take their first step, or support parents and their adult children move forward together.
The Family Assist 100% Mortgage – A head start without a deposit
Imagine buying your first home with no deposit and no need for your parents to part with cash. Our Family Assist 100% Mortgage does just that. Instead of a deposit, we take a 20% legal charge over a parent’s property.
That means you could borrow the full amount needed to buy your first home, while your parents keep their savings intact. It’s a powerful way for families to support one another, and it’s backed by responsible lending and careful personal underwriting.
Boosting Affordability with Joint Borrower Sole Proprietor
Struggling to borrow enough on your income alone? With our Joint Borrower Sole Proprietor mortgage, parents could join you on the mortgage to boost your borrowing power, without being named on the title deeds.
That keeps you as the sole owner, while still allowing the family to work together to make your dream home a reality. For first-time buyers who need a little extra financial support behind them, it’s an increasingly popular option that many people don’t know exists.
Joint Borrower Sole Proprietor doesn’t have to be a one-way street. There may be times when the younger generations are able to step in to help their parents.
Our lending model is flexible enough to allow adult children to go on a mortgage with their parents, helping them stay in the family home or even move somewhere more suitable in later life.
Multi-generation mortgages – Buying together, living together
More families are thinking differently about home ownership and living arrangements.
That’s why we now support multi-generation mortgages, where parents and adult children buy a property together and live under the same roof. Whether it’s out of necessity or choice, we’re here to help make it work with a mortgage that can take everyone’s income into account.
Annexed living – One title, one family, two spaces
Want a bit of independence under one roof? Our lending policy allows for properties with annexes, as long as they’re used for family purposes and sit under a single title.
Whether it’s a granny flat, a space for your grown-up offspring, or somewhere for relatives to stay, we recognise that families live in all sorts of ways and our mortgages are designed to reflect that.
Why smaller building societies can be more flexible
What makes all this possible? The answer is simple; we’re a small building society. That means we’re not constrained by rigid algorithms or faceless decision-making. We take the time to understand individual circumstances.
We personally underwrite every case with care, attention, and a considerate, common-sense approach.
For us, it’s not about a ‘computer says yes’ or ‘computer says no’ approach. It’s about real people, making real decisions, for real people. That’s the power of being small, nimble, and focused on our members, not shareholders.
So, if you’re a first-time buyer, or a family looking to support each other into home ownership, talk to your mortgage broker about Beverley Building Society, or talk to us directly to see if we can help.
We’re here to look at making the journey possible — together.
Stuart Bryce, is head of new business at Beverley Building Society
All applications are subject to status, affordability checks and our lending criteria. For more details visit https://beverleybs.co.uk/mortgages/
Tel: 01482 881510. Email: mortgages@beverleybs.co.uk
Beverley Building Society, 57 Market Place, Beverley, East Yorkshire, HU17 8A
Your home may be repossessed if you do not keep up repayments on your mortgage.
Beverley Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered Number 206064.
