You are here: cherry > Press releases for February 2024 > A Revolutionary Mortgage Product for First-Time Buyers

07 February 2024

Buckinghamshire Building Society are thrilled to announce the introduction of an industry-first mortgage solution that's set to change the game for first-time homebuyers.

JBSP Deposit Lite ingeniously combines the benefits of our popular JBSP and Deposit Lite mortgage products, offering unparalleled support for those looking to step onto the property ladder.

Key Benefits:
Low to No Deposit Options! Your clients can now purchase their first home with a low deposit or even no deposit, by leveraging the equity from a parent's property.
Enhanced Affordability! Up to two parents can also join them on their mortgage journey, significantly improving borrowing potential without the need for them to be co-owners of the property.

Claire Askham, Head of Mortgage Sales, commented: “We’re always looking to innovate, particularly in the first-time buyer space where it’s so tricky for potential purchasers to get a foothold on that first rung of the property ladder.

“This innovative product addresses two of the most significant hurdles in home buying: deposit and affordability.

“Through our discussions with brokers, we regularly hear how parents are eager to support their children’s ambitions of property ownership, but don’t always have the funds to gift.

“Bringing two of our most popular products together to create JBSP Deposit Lite makes purchasing a first property accessible for more potential homeowners and opens up new opportunities for brokers across the market.”