Our Joint Borrower Sole Proprietor (JBSP) is designed to give family members the opportunity to help each other achieve their housing goals, and in some cases earlier than otherwise expected.
JBSP mortgages can be used by first time buyers or second steppers needing help with affordability. We can also support clients in retirement or help parents stay in the family home for longer.
Benefits of JBSP
- Up to four incomes can be used for affordability – one or two owners/occupiers can be supported by up to two family members
- Increased borrowing potential
- No second-home stamp duty – supporting family members are listed on the mortgage, but not on the title deeds.
Reverse JBSP
- All of our JBSP arrangements can be reversed, allowing children to support their parents with affordability so they can remain in the family home.
Owner Occupier
- Repayment mortgages available up to age 95 (end of term)
- Interest-Only up to a maximum age of 89 when the loan commences
- Up to 90% LTV (maximum loan £500,000)
- Maximum loan size is £1,000,000
- For Interest-Only loans, the term must end before the eldest supporting borrower’s expected retirement age or age 70, whichever is sooner.
Buy to Let
- If your client needs a Buy to Let mortgage, they can apply for a JBSP arrangement on our standard product range – max age 89 (at loan start) and up to 75% LTV
- For Interest-Only loans, the term must end before the eldest supporting borrower’s expected retirement age or age 70, whichever is sooner.