Gen H

A Gen H booster is someone who can help make homeownership possible for you.

What is a Gen H booster?

How do I transfer equity to someone else on the mortgage?

Can I gift my equity to others?

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.

What is an Occupancy Waiver and do I need one?

Ashley Currie

Alison

John Cullen

Boosters

Our income boosters go on the mortgage to help you afford more and make it easier to get on the property ladder.

What is an income booster?

Unfortunately, you cannot use the booster features if you plan to use the Help to Buy scheme.

Can I use Help to Buy with a booster?

Yes, your income booster could be retired, but you would need to factor in the below information.

Can an income booster be retired?

You can have up to six people on a Gen H mortgage, this includes income boosters.

How many owners and income boosters can I have on my mortgage?

No, an income booster is not the same as a guarantor, but the roles are similar.

Is an income booster the same as a Guarantor?

The income booster is our spin on a Joint Borrower, Sole Proprietor (JBSP) mortgage.

Is an income booster the same as a Joint Borrower, Sole Proprietor mortgage?

An income booster can choose whether to contribute to the mortgage and if so, how much they wish to pay.

Does an income booster have to pay every month?

Your income booster must have at least a "good" credit score.

Can my income booster have bad credit?

Yes, you can be an income booster for more than one person, but this will be subject to your financial position.

Can I be an Income Booster on more than one mortgage?

This will depend on your financial circumstances.

Can I take out another mortgage if I am an income booster?

You can remove an income booster with a remortgage.

How can I remove my income booster?

Tanisha Anand

Income 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.

What is a deposit booster?

The deposit booster agreement lays out the terms of the deposit booster's contribution, including when repayment will be made.

What is the Deposit Booster Agreement?

Evidence of their identity, proof of address, national Insurance number, and source of deposit. Find out more in our guide.

What information will a mortgage deposit booster need to provide?

It's a personal decision for everyone, but there are some key advantages to being a deposit booster over gifting.

What are the advantages of being a Deposit Booster?

No, a deposit booster will not be listed on the mortgage or share any responsibility for the mortgage debt.

Does a Deposit Booster go on the mortgage?

No, there is no maximum number of deposit boosters for a mortgage application.

Is there a maximum number of Deposit Boosters allowed on a mortgage?

If you are a deposit booster and the owner stops paying the mortgage you are not liable for this.

If I am a deposit booster what happens if the owner stops paying their mortgage?

Deposit Booster

These questions will help you make the most of your ILA appointment.