Stamford Homes keeps it in the family

Stamford Homes is adding its own twist to the term ‘the Bank of Mum and Dad’ - through a new incentive that offers financial benefits to parents assisting their children onto the housing ladder.

The Family Bond allows Stamford Homes to pay Mum and Dad an unparalleled guaranteed interest rate on their savings if they use them as a deposit for their children to buy a Stamford home.

The scheme allows Mum and Dad to provide up to 25 per cent of the purchase price and then Stamford Homes pay back interest on that loan at the unparalleled rate of 10.25 per cent for two years.

Stamford Homes regional sales and marketing director Peter Bond said: “This is a fabulous scheme for parents who sincerely want to assist their children but who would lose the interest they would be receiving if they left their money in a savings account.
“The family bond is a way of helping not only their son or daughter to gain a foothold on the property ladder, but give the parents a healthy return on their investment.

“The incentive is not just restricted to parents either, it is also available to other family members who may want to support a first time buyer in the family.

“The benefits to the purchaser are that they will have a larger deposit to put down on their new home, lower mortgage repayments and are safe in the knowledge that Mum and Dad will get a healthy return on their investment in helping them onto the property ladder.”

The scheme is subject to terms and conditions, but is available across all Stamford Homes Midlands developments.

For more details about the Family Bond and other Stamford Homes incentives, as well as new homes in the region, visit stamford-homes.co.uk.