Buckinghamshire Building Society has launched a joint borrower offer aimed at first-time buyers. 

It debuts its joint borrower sole proprietor Deposit Lite product, which the mutual says includes several benefits:  

• No deposit options — Borrowers can buy their first home with a low deposit, or even no deposit, by leveraging the equity from a parent’s property 
• Boosted affordability — Up to two parents can join the agreement without becoming co-owners of the property 

Buckinghamshire Building Society head of mortgage sales Claire Askham says: “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.”