Foundation Home Loans are pleased to announce that they now offer Joint Borrower Sole Proprietor (JBSP) mortgages – a set of mortgage products for cases with multiple applicants on the mortgage, but fewer on the property deeds. JBSP mortgages are for cases where multiple applicants (up to 4) are named on a mortgage (normally for affordability reasons) but not all of them (maximum 2) are on the property title.
NEW PRODUCTS
- F1 2- and 5- year fixed products available up to 85% LTV with a £795 fee and rates starting from 6.29%
- F2 2- and 5- year fixed products available up to 80% LTV with a £795 fee and rates starting from 6.39%
Why use Residential by Foundation for JBSP mortgages?
- Up to 4 incomes used and up to 2 names on property title
- All applicants on mortgage deed
- Wide range of family permitted
- Lending into retirement permitted for occupiers and non-occupiers
- F1 and F2 Credit tiers
- Purchase and remortgage
- C&I, I/O and part & part acceptable
- Up to 4.49 x joint income
- 100% gifted deposit acceptable
- Maximum of 2 households (4 applicants) 1 or 2 occupiers of the security and 1 or 2 non-occupiers from one household