Get help from the 'Bank of Family'
We could contribute up to 5% of the purchase price with Bank of Family. Are you looking to get some help from friends or family when buying your new home? Well, we could make things even better with some additional financial support.
How does the Bank of Family scheme work?
If you’re a first-time buyer receiving financial support towards your deposit from friends or family, we could help by contributing up to 5% of the purchase price (up to £25,000). The money will be paid to you on the date of legal completion.
For example, if you purchased a £300,000 Redrow home, we’d pay you up to £15,000. For more information, speak to the sales team at your nearest development.
Bank of Family FAQs
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The Bank of Family scheme is designed for first-time buyers who are receiving financial support towards their deposit from family or friends. If you're getting help from loved ones to buy your first home, we can add extra support to get you moving.
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Redrow's contribution will be paid to you on the date of legal completion.
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To qualify, you must be a first-time buyer receiving a deposit contribution from family or friends. The contribution from Redrow is matched to your gifted deposit, up to a maximum of 5% of the purchase price or £25,000, whichever is lower. For example, if you purchase a £300,000 home, Redrow could contribute up to £15,000.
Important note: You will still be liable for Stamp Duty (where applicable) on the full purchase price at the prevailing UK Government rate.
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Get in touch with our Sales Experts at your chosen Redrow development. They will confirm whether the scheme is available on the home you’d like to purchase and guide you through the application process. The contribution amount will be agreed upon before you reserve your property.
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No, the Bank of Family scheme cannot be used in conjunction with any other Redrow offer. You will need to choose the scheme that best supports your circumstances. For more advice on which Redrow schemes could work for you, contact our Sales Experts.
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Yes. The scheme is available to first-time buyers receiving financial support from either family or friends. As long as you're getting help with your deposit from loved ones, you could qualify for Redrow's additional contribution.
Ready to find your first home with Redrow?
There's plenty of ways we can help you move
With a range of ways to help you move and tailored support available, your new Redrow home has never been closer.
