Mortgage Solutions
A Joint Borrower Sole Proprietor (JBSP) mortgage, often known as a family mortgage, can help buyers achieve home ownership when affordability is a challenge. This type of mortgage allows a family member, such as a parent, to join the mortgage application and contribute their income to improve borrowing capacity, while the property ownership remains solely with the buyer. JBSP mortgages are a popular option for first-time buyers who need additional support from family members, without adding them to the property deeds. Our experienced mortgage advisers can help you explore whether a Joint Borrower Sole Proprietor mortgage is the right solution for your circumstances and guide you through the process from application to completion.
A Joint Borrower Sole Proprietor (JBSP) mortgage allows two or more people to apply for a mortgage together, using all applicants’ incomes to support affordability, while only one person owns the property. It is often used as a family mortgage solution, particularly where parents or family members want to help someone buy a home without being named on the property deeds.
With a JBSP mortgage, the additional borrower(s) are responsible for the mortgage payments alongside the property owner, and their income can be considered when assessing how much can be borrowed. However, unlike a standard joint mortgage, only the sole proprietor is registered as the legal owner of the property.
Yes. A JBSP mortgage is commonly used by parents who want to support their children in buying their first home. By adding their income to the mortgage application, parents may help improve affordability and increase the amount their child can borrow, without owning a share of the property.
No. The key feature of a JBSP mortgage is that the additional borrower(s) are named on the mortgage but not on the property ownership documents. The sole proprietor remains the legal owner of the home.
Potentially. Some lenders consider the age of all borrowers when assessing the mortgage term and affordability. However, we have specialist lenders available who offer solutions designed to accommodate older family members in certain circumstances.
