We have products to help your clients who are purchasing new-build properties.
We can split mortgages and combine with Joint Borrower - Sole Proprietor.
Case study 1
Dad is 59 and planning to retire at 75. He is supporting his son's purchase by being a joint borrower because the son's income doesn't support the loan required. Ownership of the of the property will be in the son's sole name. We split the loan so the part of the mortgage the son qualifies for is over a 35 year term, and the excess amount that Dad is helping with is on a 16 year term which will finish when Dad retires.
Case study 2
Bob is in his late 50's and buying a new home. We arranged to split his loan - part on a capital repayment basis to finish when he retires and the remainder will be on an interest-only basis, which will be paid by his pension income until the age of 80. Bob plans to downsize before he reaches the end of the term.
If you have similar clients, talk to us. It's what we do.