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Family-supported mortgages

Want to help your child or grandchild get their own place and get on the property ladder? Get expert advice on family-supported mortgages from Saga Mortgages.

Looking for ways to help your children or grandchildren get a place of their own? Through the Saga Mortgages service, you’ll get access to expert advice on the best ways you could support your loved one’s purchase - whether that’s through a cash gift, acting as a guarantor or unlocking money from a property you own.

Why choose Saga Mortgages?

Saga Mortgages is a service created to better support those over 50 looking to take out a mortgage or help their loved ones get on the ladder. You’ll benefit from award-winning advice from a friendly, experienced team of mortgage professionals, who are available seven days a week. They’ll search all the available options to find the best solution for you and your family.

When it comes to family-supported mortgages, Saga Mortgages has particular expertise. The service is provided by Tembo, an award-winning digital mortgage broker who specialise in boosting affordability using guarantor mortgages, and other specialist schemes. It’s important to know that as a guarantor, you are responsible for any missed payments and your home may be repossessed if payments are not made.

To understand what could work for you and your family, create a Saga Mortgages recommendation. This shows you indicative monthly repayments, live interest rates and product explainers for this and other guarantor schemes.

Grand parents with their grandchildren on a sofa at home

Income Boost

Help your loved ones get a home of their own by using your income.

Find out more
An adult and child's hands cupped together holding a small wooden house

Deposit Boost

Support loved ones get on the ladder by unlocking money from your home

Find out more
A grandfather looking at a book with his granddaughter

Springboard Mortgages

Lend a helping hand and get your loved ones on the ladder through cash savings.

Find out more

What’s the application process?

Once you’ve completed a Saga Mortgages recommendation online, you’ll be invited to book a no-obligation appointment and begin the advice process. Your dedicated mortgage advisor will take you and your loved one through the options available from our panel of over 100 lenders.

Once you’ve decided on the option you’d like to go with, we’ll complete a full qualification for all applicants - this includes verifying your income, outgoings, identity and credit history.

Can I still help if I’m retired?

There are still support options open to retirees looking to help a family member onto the ladder. For example, with a Deposit Boost, you can use a specialist retirement mortgage to unlock money from your home. The proceeds are then gifted to your loved one to boost their house deposit. As long as you can afford the monthly repayments and meet the lender’s criteria, then there is no reason why this option will not be open to you as a retiree.

If you plan to retire in the next few years, or you’re approaching retirement age, and want to use an Income Boost to support your loved one, you’ll need to be able to evidence what your future pension income will be. The affordability will be based on this income, rather than your employed income.

Other ways you could support your loved one’s home purchase

There are various ways you can support your loved one’s home purchase, not all of them financial. For example, if you want to help bolster their house deposit, you could gift them a deposit from your savings,  downsize or remortgage your property to release equity. You could also direct your loved one to an expert in mortgage affordability like the team at Saga Mortgages, who can help them discover ways they can boost their buying budget, with or without family support. Or allow them to move into your home and pay reduced rent, enabling them to save up a house deposit of their own sooner.

Before making any important financial decisions around supporting your loved one's home purchase you should consider seeking professional help.

Can I talk to an advisor?

Through the Saga Mortgage service, you can book an appointment with award-winning mortgage advisors. Simply complete our online fact find and, if you’re eligible, you’ll be directed to book an appointment. Our friendly team is available 7 days a week, ready to answer any questions you may have about family-assisted mortgages.

Here and ready when you are

Whether you have questions about family-supported mortgages or just want to find out more, the expert team are on hand to help.

0330 018 3071

Mon-Thu 9am-8pm
Fri 9am-5:30pm
Sat-Sun 10am-3pm

Start your fact find

What lenders will I get access to?

Through Saga Mortgages, you will have access to mortgage advice through our partner Tembo. Their award-winning mortgage advisors will search over 20,000 mortgage products and over 100 lenders to find the most suitable and best priced deal for you. This includes all the high-street lenders you’ll be familiar with, like Nationwide, Halifax, Lloyds, Barclays and HSBC, as well as smaller, specialist lenders like Livemore and Generation Home.

Is Saga Mortgages FCA regulated to give mortgage advice?

All mortgage advice through Saga Mortgages is provided by Tembo Money Limited, who are regulated by the Financial Conduct Authority (FCA) under the registration number 952652. Their team of award-winning mortgage advisors are experienced in providing mortgage advice, including guidance on remortgaging, family-supported mortgages and later life lending.

Do I need to get legal advice beforehand?

It’s often a wise decision to seek legal advice before selecting a family-supported mortgage. For example, with a Savings as Security mortgage you will need to get independent legal advice because you will be offering your cash savings as collateral for the home loan in the unlikely circumstance that your loved one doesn’t make their monthly repayments.

Important information

Your home may be repossessed if you do not keep up payments on your mortgage. Saga Money may receive payment from Tembo if you obtain a mortgage offer through the Saga Mortgages service. This will not impact the amount you pay for the service.

Saga is a registered trading name of Saga Personal Finance Limited, which is registered in England and Wales (company number 3023493). Registered office 3 Pancras Square, London, N1C 4AG. Saga Personal Finance Limited is authorised and regulated by the Financial Conduct Authority under the registration number 178922.

Tembo Money Limited (12631312) is a company registered in England and Wales with its registered office at 18 Crucifix Lane, London, SE1 3JW. Tembo is authorised and regulated by the Financial Conduct Authority under the registration number 952652. Tembo Money was awarded Best Mortgage Broker at the British Banking Awards in 2022 and 2023.

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Knowing your mortgage options

Saga Mortgages can help you understand and navigate your mortgage options.

Finding out which products are available starts with knowing which ones you're eligible for and we can help with that.

Am I eligible?