Chelsea has launched a helping hand mortgage for first-time buyers exclusively through Openwork.First-time buyers can use the income of parents or close family members. Up to three incomes can be used and there can be up to four applicants. The term of the product is based on the child’s age rather than the parent’s. The helping hand fixed product has a rate of 5.19% fixed until September 30 2009. The helping hand tracker mortgage tracks Bank of England base rate plus 0.25%. Paul Shearman, mortgage proposition director at Openwork, says: “This mortgage offers flexibility and independence coupled with the security of a reputable high street name.” To coincide with the launch of the product, Chelsea asked consumers whether they would ask their parents for money and found twice as many people would rather ask their mother for money than their father. Dads in the South-West hold on to their money longest with only 3.6% of people quoting them as first choice, while fathers in London had better start saving as they are the most approachable.