NatWest International offering family-backed mortgages
A new mortgage option is now to be available for first-time buyers on the Isle of Man.
NatWest International has launched family-backed mortgages, which will allow family members or close friends to contribute to an application without taking on ownership of the property.
The bank says the move responds to a growing trend of more adult children moving back home to save for a house deposit.
It hopes the new offering will help get first-time buyers on the ladder with the support of those closest to them.
Richard Steel, Managing Director of NatWest International, Retail and Commercial Banking said: "We are committed to providing more pathways to home ownership and helping first-time buyers to achieve their goals.
"Today’s launch of the Family-Backed Mortgage boosts the borrowing power of prospective homeowners by enabling them to combine incomes with a family member or friend, while retaining independence to own a home in their own name."
Officers and partner agencies praised following immigration fraud conviction
Work to improve mooring at Ferry Terminal in Liverpool scheduled for next week
Manx Care reports major drop in dental waiting lists
Police 'disappointed' to find more than half of vehicles with defects in latest winter checks
