The lender’s Family Friendly Mortgage is marketed as easing the strain of starting a family and the bridging loan product offers no monthly payments while one partner takes a career break after the birth of a child.
Castle Trust said it hopes this product can target this quickly developing market.
“Our new product will reduce a couple’s monthly mortgage payments by at least 25%,” said Sean Oldfield (pictured), CEO of Castle Trust.
“We can see that couples are waiting longer and longer to have their first child. Whilst there are a number of contributory factors, the impact of losing one income has been getting progressively more difficult to manage as long term house price inflation continues to outstrip earnings growth.
“We have worked really hard to design a product and lending criteria which will help new parents crack this problem”.
