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Boosters
Boosters
How can they help me buy?
A
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20 articles in this collection
Written by
Sophia Guy-White,
Ashley Currie,
Millie
and 1 other
What is a Generation Home booster?
A Generation Home booster is someone who can help make homeownership possible for you.
Written by
Sophia Guy-White
Updated over a week ago
Can I gift my equity to others?
How do I transfer equity to someone else on the mortgage?
A
Written by
Ashley Currie
Updated over a week ago
What is an Occupancy Waiver and do I need one?
An occupancy waiver is for anyone aged 17 or over, who plans on living in the property, but is not on the mortgage to sign.
Written by
Alison
Updated over a week ago
Income Booster
What is a mortgage income booster?
We make it easier to get on the property ladder. Add an income booster to enhance your mortgage. Learn more with our income booster video.
Written by
Sophia Guy-White
Updated over a week ago
Why do Income Boosters need to set up Direct Debits?
We require direct debit mandates from income boosters to provide ease and flexibility should they want or need to contribute.
Written by
Millie
Updated over a week ago
Can an income booster be retired?
Yes, your income booster could be retired, but you would need to factor in the below information.
Written by
Alison
Updated over a week ago
How many owners and income boosters can I have on my mortgage?
You can have up to six people on a Generation Home mortgage, this includes income boosters.
Written by
Millie
Updated over a week ago
Is an income booster the same as a Guarantor?
No, an income booster is not the same as a guarantor, but the roles are similar.
Written by
Sophia Guy-White
Updated over a week ago
Is an income booster the same as a Joint Borrower, Sole Proprietor mortgage?
The income booster is our spin on a Joint Borrower, Sole Proprietor (JBSP) mortgage.
Written by
Sophia Guy-White
Updated over a week ago
Does an income booster have to pay every month?
An income booster can choose whether to contribute to the mortgage and if so, how much they wish to pay.
Written by
Sophia Guy-White
Updated over a week ago
Can my income booster have bad credit?
Your income booster must have at least a "good" credit score.
Written by
Sophia Guy-White
Updated over a week ago
Can I be an Income Booster on more than one mortgage?
Yes, you can be an income booster for more than one person, but this will be subject to your financial position.
Written by
Sophia Guy-White
Updated over a week ago
Can I take out another mortgage if I am an income booster?
This will depend on your financial circumstances.
Written by
Sophia Guy-White
Updated over a week ago
Deposit Booster
What is a deposit booster?
A deposit booster helps home buyers with the deposit. But instead of simply gifting the money, they contribute to the deposit via a loan.
Written by
Sophia Guy-White
Updated over a week ago
What is the Deposit Booster Agreement?
The deposit booster agreement lays out the terms of the deposit booster's contribution, including when repayment will be made.
Written by
Millie
Updated over a week ago
What information will a mortgage deposit booster need to provide?
Evidence of their identity, proof of address, national Insurance number, and source of deposit. Find out more in our guide.
Written by
Millie
Updated over a week ago
What are the advantages of being a Deposit Booster?
It's a personal decision for everyone, but there are some key advantages to being a deposit booster over gifting.
Written by
Millie
Updated over a week ago
Does a Deposit Booster go on the mortgage?
No, a deposit booster will not be listed on the mortgage or share any responsibility for the mortgage debt.
Written by
Millie
Updated over a week ago
Is there a maximum number of Deposit Boosters allowed on a mortgage?
No, there is no maximum number of deposit boosters for a mortgage application.
Written by
Sophia Guy-White
Updated over a week ago
If I am a deposit booster what happens if the owner stops paying their mortgage?
If you are a deposit booster and the owner stops paying the mortgage you are not liable for this.
Written by
Alison
Updated over a week ago