For loans greater than 80% LTV, additional security is required in the form of a collateral charge over the residential property of the parents together with a parental guarantee.
This will be the first time Bath’s parent assisted mortgage will come with a fixed rate.
Steve Matthews, head of lending at Bath, said: “We have recently launched a number of new products in order to offer solutions to complex problems the typical high street lenders cannot solve.
“By offering 3-year fixed rate options for both of our parent assisted mortgage products, together with the variable rate options, we provide a comprehensive solution for brokers looking to place higher LTV deals.”
