The Family Assist Savings Account can only be opened as part of a Family Assist Mortgage application.
The Family Assist Savings Account is available to savers:
- supporting a family member purchasing a property with the Family Assist Mortgage;
- aged 18 years and over who reside in the United Kingdom;
- saving an amount of either 10% or 15% of the purchase price of the property for a period of 3 years (the borrower must provide the deposit of 5% of the purchase price of the property);
- who are happy for their savings to be held by a Guarantee and Charge (independent legal advice must be obtained).