Personal Finance | 20 February 2024

A service that grows with your family

We know banking needs change for family members at different life stages, here’s how we could help you and your family grow across the generations.

When it comes to seeking advice for the big decisions in life, who do we turn to? So often, our closest family is the first port of call – they’re the people with our best interests at heart and they’ll have valuable experience to share. Today, family financial planning and cross generational support has arguably never been more important: the cost of living is high and affects everyone differently depending on what stage of life you’re at. Those starting out will need more support than those further on and it’s no secret that that level of support may well be different to what their parents received – especially when it comes to a key moment like getting your foot on the property ladder.

The value of home

Let’s remember how much of a value engine property is, especially if it’s also providing you or a loved one with a home and protecting their income from rising rents. A look at UK Land Registry data in November 2023, shows us how significantly average property prices have risen over the last 30 years, keeping value well above inflation levels.


Average price of all property types
Nov 1993 - Nov 2023

Source: UK Land Registry, Nov 2023

Property is a key part of almost any wealth portfolio and ownership brings many benefits. Now especially could be a good time to step onto the property ladder as UK prices have just come through a prolonged drop – the Office for National Statistics claims by 2.1% in the 12 months to November 2023 – and the outlook for interest rates could potentially also be improving. With rents rising too, buy-to-let properties could also offer potentially good returns after tax.

Being able to capture this growth over time can be a keystone for the wealth creation that can set up a younger family member as they progress through life, ultimately giving them the basis to provide for their own family in due course.

We believe this kind of wealth planning for families can be crucial – for property purchases and beyond – and it’s something we actively want to support our clients with.

How your bank can support your family

Our clients can benefit from a range of bespoke wealth banking services and, where appropriate, we’re able to extend these to other family members. For the children of our clients who also bank with us, we tailor our service so they receive guidance and financial products that are right for them and their life moments. By doing this, we want to share and support your family goals of making sure the younger generation are in the best possible position to grow their wealth over time.

Flexible and considerate

We understand that supporting family growth, particularly for younger family members, requires flexibility. We’re able to work with our partners within the broader NatWest Group to ensure family members are supported by the right financial services for them.

For example, bespoke mortgages might work best for family members with complex needs and incomes, or a portfolio of assets. However, for a member of the younger generation hoping to buy their first flat having just secured their first steady salary, it might be less appropriate. In this situation, there are circumstances where we could be able to leverage the best alternative options within NatWest Group and offer them a simple mortgage, carrying the benefits of NatWest Group pricing but through their Coutts advisor. And it’s not just first-time buyers or young professionals who can access these simple mortgages. Clients with existing mortgages and established households could also able to take advantage of these mortgages.  

We know sometimes an individual may not be able to achieve the mortgage they want based on their income alone. Here we’re able to help with guarantees, allowing other family members to assist in securing the loan. Likewise, we’re able to offer offset mortgages. An offset mortgage means our clients can use deposits from up to ten linked family member accounts to offset the balance on mortgages of adult grandchildren on which interest is calculated.

The benefits go beyond just a mortgage

The process of securing a mortgage can provide a really useful ‘world view’ on your finances, especially if you’re just beginning your career journey, so it’s great to have professional advice and insight that can provide a broader financial context. Our core purpose as your private bank is to be there at every stage, making sure you and your family have a comprehensive financial plan throughout. Whether it’s a loan, investments, savings, philanthropy or inheritance we want to make sure we’re bringing the right approach which respects every circumstance and helps you and your family grow the way you want.


Speak to your private banker or call Coutts 24 on 020 7957 2424. 


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Advice and product fees may apply. Eligibility criteria apply. Your home may be repossessed if you do not keep up repayments on your mortgage. The value of investments and the income from them can fall as well as rise, and you may not recover the amount of your original investment. You should continue to hold cash for your short-term goals.


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