David Fairclough from local mortgage and insurance broker firm Gordon Blair blogs for local mums on everything to do with mortgage advice
August
What I Wish More Families Knew About Helping Children or Parents with a Home
By David Fairclough, Gordon Blair Financial Services
Some of the most meaningful conversations I have as a mortgage adviser do not begin with interest rates. They begin with people looking for help.
Sometimes it is a parent asking, “How can we give our child a better chance of buying their first home?” At other times, it is an adult son or daughter wondering, “How can we help Mum or Dad move somewhere safer and closer to us?”
These questions will feel familiar to many Local Mums readers. You may have grown-up children who earn a reasonable income but are struggling to save a large enough deposit. At the same time, you may be thinking about parents whose current home no longer meets their needs.
It is one reason the phrase “sandwich generation” rings true for so many families. You may find yourself trying to support the generation above you and the generation below you, while also managing your own household and financial plans.
What I want families to know is that there may be more than one way to help. The important part is choosing an arrangement that supports the person you love without quietly creating a financial problem for somebody else.
The names of the different mortgage options can sound technical, but the starting point is usually simple:
Who will own the property?
Who will live in it?
Who will provide the money?
Who will be responsible if circumstances change?
In my experience, answering those four questions early makes the mortgage conversation much clearer.
Helping a child: the deposit is not always the whole story
Parents often come to me assuming that a larger deposit will solve everything. It can certainly help, but lenders also consider affordability, income, existing credit commitments, the type of property and the proposed mortgage term.
The right solution depends on what is actually preventing the purchase from going ahead.
Example: the deposit is the missing piece
Imagine a daughter who has a stable job and can comfortably afford the monthly mortgage repayments. However, rent and everyday living costs have made it difficult for her to save a full deposit.
Her parents have savings and would like to give her £15,000.
In this situation, a gifted deposit may be the cleanest solution. The lender will normally want written confirmation that the money is a genuine gift rather than a loan that must be repaid. The parents will also usually need to confirm that they will not own a share of the property.
The solicitor will need evidence showing where the money came from, so the family should be prepared to provide bank statements and other supporting documents.
It is useful to understand these requirements before an offer is made on a property. I have seen how stressful it can become when a family describes money as a “gift” on the mortgage application but privately expects the child to repay it each month.
That changes the true financial picture and could affect the lender’s decision.
My advice is to be completely clear from the beginning. Is the money a gift, a loan or an investment?
These are three different arrangements and should never be treated as interchangeable.
Example: income, rather than the deposit, is the problem
Now imagine a son who has saved a reasonable deposit but cannot borrow enough on his income to purchase a suitable home.
In some cases, a parent may be able to join the mortgage under a joint borrower sole proprietor arrangement, often shortened to JBSP. Under this type of arrangement, the parent and child may both be responsible for the mortgage, while the child remains the sole legal owner of the property.
This can be helpful because the lender may consider both incomes when assessing how much can be borrowed.
However, the parent is not simply “lending their name”.
They are jointly responsible for the mortgage debt. Their own mortgage, loans, living costs, retirement plans, age and income may all form part of the lender’s affordability assessment.
This is one of the areas where I encourage families to look beyond whether they can borrow the amount they need.
We also discuss how long the parent expects to remain on the mortgage and what would need to happen before the child could take responsibility for it alone.
For example, would the child need a higher salary, a smaller remaining mortgage balance or improved affordability before the parent could be removed?
A sensible exit plan matters just as much as the initial mortgage approval.
Example: savings can help without being given away
Some family-assisted mortgage products allow parents or grandparents to place savings into a linked account for a set period.
Other arrangements may allow a family member’s property to be used as additional security.
These options may suit parents who want to help but are uncomfortable giving away a large sum of money permanently.
However, there may still be significant risks. The savings could be tied up for several years. Depending on the arrangement, the supporting family member could lose money or even put their own property at risk if the mortgage repayments are not maintained.
This is why saying, “I will not be making the monthly payments,” does not mean, “I am not taking any risk.”
Any supporting relative should understand exactly what has been pledged, how long the commitment may last and what must happen before they can be released from it.
Buying together can solve one problem and create another
Joint ownership may appear to be the most straightforward option.
A parent and child purchase the property together, both appear on the mortgage and both legally own a share of the home.
For some families, this may be appropriate. However, it can also affect property tax, first-time-buyer relief and the parent’s ability to borrow in the future.
If the parent already owns a home, additional-property tax rules may also become relevant.
The family should agree what will happen if one person wants to sell, if relationships change or if each person contributes a different amount.
For example, imagine a mother contributes most of the deposit while her daughter makes most of the monthly mortgage payments.
Five years later, the daughter decides she wants to move in with a partner.
Without a clear legal agreement, the mother and daughter may have very different views about how much of the property each person owns and how the proceeds should be divided if the home is sold.
These conversations can feel uncomfortable at the beginning, but they are much harder after a disagreement has developed.
A solicitor can help the family record the intended ownership, financial contributions and responsibilities properly.
Helping a parent: start with the life they need
When a family wants to help an ageing parent, I usually begin with the practical outcome rather than the mortgage product.
Does Mum want to remain independent but move closer to the grandchildren?
Does Dad need a smaller property without stairs?
Is the aim to release money from an existing home or to purchase somewhere new?
Will the property still be suitable if mobility or care needs change in the future?
The mortgage should support the wider plan. It should not dictate it.
Example: helping Mum move closer to the family
Imagine Mum owns her current home but would like to move nearer to her daughter.
The new area is more expensive, so the money released from selling her existing property will not cover the full purchase price.
Depending on her age, income and personal circumstances, the family may consider a standard residential mortgage, a retirement interest-only mortgage or another form of later-life lending.
With a retirement interest-only mortgage, the borrower normally pays the interest each month. The original capital is usually repaid when the property is eventually sold, often following death or a permanent move into long-term care.
This can sound attractive, but it still requires a full affordability assessment.
The family must understand the monthly payment commitment and what the arrangement could mean for the borrower’s estate.
Equity release works differently and can reduce the value eventually left to beneficiaries, particularly when interest is added to the loan rather than paid each month.
Later-life lending should not be reduced to a quick comparison of interest rates.
It deserves a wider conversation about income, benefits, care needs, inheritance, emergency savings and alternatives such as moving to a less expensive property.
Example: an adult child buys a property for a parent
Another family may decide that an adult child will purchase a small property for Dad to live in.
This may be possible in some circumstances, but it will not necessarily be treated like an ordinary owner-occupied purchase.
The buyer must tell the lender exactly who will live in the property and whether Dad will pay rent or contribute towards the household costs.
If the buyer already owns another property, higher rates of property transaction tax may apply.
The tax position differs across England, Northern Ireland, Scotland and Wales, so legal and tax advice should be taken before the family commits to the purchase.
This is a good example of why early advice matters.
A family may focus on whether the monthly mortgage payment is affordable, only to discover later that the ownership structure affects the tax bill, available mortgage products or insurance requirements.
The questions I encourage every family to ask
Whenever family money and property come together, good intentions need clear paperwork.
Before applying for a mortgage or transferring a deposit, I suggest discussing the following questions:
Is the financial contribution a gift, a loan or a share in the property?
Who will legally own the home?
Who will live in the property?
Will anyone pay rent or contribute towards the household costs?
Who will be responsible for the mortgage if someone’s income falls?
What happens if someone becomes ill or a relationship changes?
Could the arrangement delay a parent’s retirement?
Could it reduce their emergency savings?
Might it affect tax, benefits, care funding or inheritance?
What is the plan for removing a supporting parent from the mortgage?
What will happen if the property is sold?
Does each person need separate legal advice?
These questions are not designed to put families off helping one another.
They help turn a generous idea into a clear and workable plan.
Why this matters for Local Mums readers
Mums are often at the centre of these decisions.
You may be the person comparing house prices with an adult child, accompanying a parent to appointments and trying to keep your own household finances on track at the same time.
Understanding the broad options gives you a better starting point.
It helps you recognise that a gifted deposit is only one form of family support.
Adding a parent’s income to a mortgage also adds financial responsibility.
Purchasing a property for a relative can have tax, legal and ownership consequences.
Later-life borrowing should be considered alongside retirement, care needs and inheritance plans.
Speaking to a mortgage adviser and solicitor early can prevent expensive surprises later.
The best result is not necessarily the largest mortgage or the fastest completion.
It is an arrangement that everyone understands, can afford and still feels comfortable with several years from now.
My final thought
Wanting to help your child or parent comes from a good place.
However, love and generosity do not remove financial risk. They make open and honest conversations even more important.
If your family is considering a gifted deposit, a JBSP or family-assisted mortgage, purchasing a property for a parent or exploring later-life lending, take advice before moving money or making an offer.
Once the whole picture is clear, you can decide whether the proposed arrangement is genuinely helpful for everyone involved.
David Fairclough is a mortgage adviser at Gordon Blair Financial Services. He helps families understand their borrowing options and make informed decisions at different stages of life.
The examples in this article are illustrative and do not describe specific clients. This article is for general information only and does not constitute personal mortgage, legal or tax advice. Mortgage availability and lending criteria vary. Your home may be repossessed if you do not keep up repayments on your mortgage. Property taxes differ across the UK: Stamp Duty Land Tax applies in England and Northern Ireland, Land and Buildings Transaction Tax applies in Scotland, and Land Transaction Tax applies in Wales.
Contact:
David Fairclough
Gordon Blair Mortgage and Insurance Brokers
Tel: 0208 715 7267
Email: Info@gordonblair.co.uk
Gordon Blair on Facebook
Gordon Blair on Instagram
www.gordonblair.co.uk
July
Will mortgage rates fall in 2026?
Why this summer could be a great time for families moving in South London
By David Fairclough, Mortgage Adviser at Gordon Blair Financial Services
With the summer holidays in full swing and many families starting to plan ahead for September, July is traditionally one of the busiest times for home moves.
Whether it’s an extra bedroom, a bigger garden for the children, or simply a fresh start, many local parents are asking the same question:
Should we wait for mortgage rates to fall, or is now a good time to buy?
What could happen to mortgage rates during the rest of 2026?
While nobody can predict exactly what will happen, mortgage rates are currently more stable compared to the highs seen in recent years. Many experts expect rates to remain steady, with the possibility of gradual reductions later in 2026.
That said, many local parents find that trying to time the market perfectly can be stressful and often unnecessary. The right home, in the right area, usually matters more than waiting for a small change in interest rates.
Summer can also be an ideal time to move, giving children time to settle before the new school year begins.
Why families Love Living in sutton
Sutton continues to be one of the most popular areas for families in South London. Many local parents are drawn to its excellent schools, green spaces and strong community feel.
During July, places such as Manor Park and Beddington Park are full of families enjoying picnics, playgrounds and long summer evenings.
The area also offers a wide range of spacious family homes, making it a strong choice for growing households.
Cheam: village charm with great schools
For many local parents, Cheam offers the perfect balance between village living and London convenience.
Cheam Village has a welcoming atmosphere, while Nonsuch Park becomes especially popular during the summer months, with families enjoying walks, cycling and outdoor time together.
The area’s highly regarded schools and attractive homes continue to make it one of South London’s most desirable locations.
Why Carshalton has become a favourite for families
Carshalton is often seen as one of South London’s hidden gems.
Its ponds, green spaces and friendly neighbourhood feel make it especially appealing for families with younger children. During the warmer months, local cafés, weekend markets and community events bring the area to life.
Many buyers are surprised by the mix of character homes and modern properties available.
Kingston offers space, schools and riverside living
Kingston remains a standout choice for many local parents.
With Bushy Park, Richmond Park and scenic riverside walks along the Thames, there’s no shortage of outdoor space to enjoy during the summer.
Families are often attracted to Kingston for its excellent schools, shopping facilities and easy transport links into Central London, while still enjoying a more relaxed lifestyle.
Is waiting always the best option?
As a mortgage adviser, I often speak to families who delayed their move while waiting for rates to drop further.
Sometimes that works out, but often the ideal home becomes available when you least expect it. Property prices, competition and personal circumstances all play a role.
For many local parents, finding the right home and securing a suitable mortgage is more important than trying to predict short-term market changes.
Thinking about moving this summer?
If you’re planning a move before the new school term begins, now could be a good time to explore your options.
At Gordon Blair Financial Services, we help families across Sutton, Cheam, Carshalton, Kingston, Croydon and surrounding areas find mortgage solutions tailored to their needs.
Because buying a home isn’t just about securing a mortgage — it’s about creating the space where family life happens.
Your home may be repossessed if you do not keep up repayments on your mortgage.
David Fairclough is a Mortgage Advisor at Gordon Blair Mortgage and Insurance Brokers who advises local families in Carshalton, Wimbledon and Norbury.
Contact:
David Fairclough
Gordon Blair Mortgage and Insurance Brokers
Tel: 0208 715 7267
Email: Info@gordonblair.co.uk
Gordon Blair on Facebook
Gordon Blair on Instagram
www.gordonblair.co.uk
June
Finding time for mortgage advice shouldn’t add stress to family life
For many families, life can feel like a constant balancing act. Between school runs, work commitments, household responsibilities and trying to make time for yourselves, arranging a mortgage or insurance appointment can easily slip to the bottom of the priority list.
It’s completely understandable, finding the time to seek advice can feel difficult enough before the process has even begun.
That’s exactly why online consultations have become such a popular option.
At Gordon Blair Mortgage and Insurance Brokers, we’ve made the process simple, flexible, and designed around real family life. Whether you’re buying your first home, moving house, remortgaging, or reviewing your family’s insurance cover, you can now speak to an experienced adviser without even leaving your home.
Mortgage advice that fits around your family
Gone are the days when you needed to take time off work or spend valuable time travelling for a mortgage appointment.
With an online mortgage or insurance consultation, you can speak to an experienced adviser from the comfort of your own home - whether that’s during a quiet moment while the children are napping, after bedtime, or simply whenever suits your schedule best.
At Gordon Blair Mortgage and Insurance Brokers, we’ve made the process straightforward and stress-free. Our online booking system allows you to choose a time that works for you, and your consultation can take place over a video call or by phone -whichever feels easiest and most comfortable.
Expert advice should fit around your family life - not the other way around.
What can we help with?
Your free consultation can cover a wide range of mortgage and protection needs, including:
• First-time buyer mortgages – helping you understand how much you could borrow and what options are available to you
• Remortgaging – reviewing your current deal and exploring ways you could potentially save money
• Moving home mortgages – making your family’s next move as smooth as possible
• Buy-to-let mortgages – support for landlords and property investors
• Life insurance and family protection – helping ensure your loved ones are financially secure
• Income protection and critical illness cover – valuable peace of mind for working families
Even if you’re only exploring your options or planning ahead, that first conversation can often provide clarity, confidence, and reassurance.
No pressure, just honest advice
One concern many people have when speaking to a mortgage broker is whether they’ll feel pressured into making a decision.
That’s simply not how I work.
Your free consultation is exactly that - an opportunity to ask questions, understand your options, and receive advice tailored to your personal circumstances. Whether you’re ready to move forward now or simply planning for the future, I’m here to help you make informed decisions at your own pace.
Booking takes less than a minute
We’ve made it incredibly easy to arrange your appointment online.
Simply choose a time that suits you, fill in a few details, and we’ll take care of the rest.
Book your free mortgage or insurance consultation here:
https://gordonblair.co.uk/appointment-booking/
If you’ve been meaning to review your mortgage, buy your first family home, or put the right insurance protection in place, there’s never been a better time to book.
I look forward to speaking with you,
David.
David Fairclough is a Mortgage Advisor at Gordon Blair Mortgage and Insurance Brokers who advises local families in Carshalton, Wimbledon and Norbury.
Contact:
David Fairclough
Gordon Blair Mortgage and Insurance Brokers
Tel: 0208 715 7267
Email: Info@gordonblair.co.uk
Gordon Blair on Facebook
Gordon Blair on Instagram
www.gordonblair.co.uk
April
How to avoid nasty surprises when your fixed rate ends
It’s a normal Tuesday morning. School bags are by the door, breakfast is half-eaten and you’re already thinking about work, dinner, and everything in between.
Then a letter arrives.
It’s from the mortgage lender.
At first, it doesn’t seem urgent - just another envelope in a pile of life admin. But inside is something many families don’t expect until it happens:
Your fixed mortgage rate is ending.
And suddenly, the monthly payment you’ve been used to…is about to change.
For many families, this is where the shock comes in.
As a mortgage advisor at Gordon Blair Mortgage and Insurance Brokers it’s a situation I see often.
We frequently see families move onto their lender’s standard variable rate without realising how much higher it can be - and how quickly that can affect their monthly budget.
At first, the change might not feel like much on paper. But in real life, when you’re balancing childcare, rising food shops, school costs, and everyday bills, even a small increase can quietly start to squeeze the household budget.
And because life is already so busy, it’s easy for this to creep up without being noticed until it becomes harder to manage.
That’s why the key is not waiting for the letter to arrive and the change to happen, but planning ahead.
The families who avoid the biggest shocks are usually the ones who:
- Check when their fixed rate is due to end early
- Start looking at new mortgage options months in advance
- Speak to a mortgage adviser before the change happens
- Understand what their new payments could realistically look like
- Don’t assume staying with the same lender is automatically the best option
The biggest difference comes from preparation. When families plan ahead, they stay in control rather than being caught out.
Because in reality, it’s not just about interest rates or paperwork.
It’s about sitting at your kitchen table and knowing exactly what’s coming next - without that sudden panic when things change.
And for most families that peace of mind is worth just as much as the numbers themselves.
Need advice before your fixed rate ends?
If your fixed rate is coming to an end soon - or you’re not sure what your options are - it’s worth getting advice early.
The team at Gordon Blair Mortgage and Insurance Brokers is here to help local families understand their options clearly and avoid any unexpected surprises.
Tel: 020 8715 7267
Email: info@gordonblair.co.uk
Website www.gordonblair.co.uk
A quick, friendly chat now could help you stay in control of your monthly budget and avoid unnecessary stress later.
Read Local Mums’ reviews of Gordon Blair
David Fairclough
Gordon Blair Mortgage and Insurance Brokers
Tel: 0208 715 7267
Email: Info@gordonblair.co.uk
Gordon Blair on Facebook
Gordon Blair on Instagram
www.gordonblair.co.uk
David Fairclough is a Mortgage Advisor at Gordon Blair Mortgage and Insurance Brokers who advises local families in Carshalton, Wimbledon and Norbury.
