Family springboard mortgage

[chicken853]

... anyone have experience of these? My sister has accepted this from my parents, I'm really unsure of how it works and how involved they are in your finances ...

My sister has one. Worked for her. No issues with the set up from provider of deposit.

Both parties have to get independent legal and financial advice and prove that advice has been sought before it’s all signed off.

Deposit provider will get money back after 3 years with interest.

Why are you concerned about your sisters and parents finances?

It's actually very similar to a Ponzi Scheme... using money from the top of an investment to draw in gullible new entrants at the bottom of the scheme.
But I suppose the government and banks will continue to do anything and everything to keep house prices propped up and the property bubble inflated

There is a very low rate of people buying new homes and taking mortgages out even though interest rates are the lowest they have ever been in decades, house prices are just ridiculous over priced compared to people's earnings, the banks are desperate to get more people to buy expensive assets and can not give out 100% mortgages because of what happened last time, so the next best thing is to get parents to put the deposit down in a 'savings' account, so if prices do come back down the parents will lose their savings which gives the bank protection.