Joint Borrower Sole Proprietor

A Joint Borrower Sole Proprietor product can help to get your client on the property ladder by allowing a family member assist with affordability.

We have a JBSP Affordability Calculator to help you establish how much the occupier and supporter can borrow.

JBSP

• Homeowners only
• Free valuation fees
• Minimum age 21
• Repayment only
• Max LTV 90%
• Minimum loan size: £100,000
• Maximum loan size: up to 80% LTV: £3,000,000, up to 90% LTV £1,000,000
• Maximum of 2 owner borrowers
• Maximum of 2 supporting borrower
• The maximum age of the Supporter at application is 70 years
• The supporting borrower(s) must be a close family member*
• The supporting borrower(s) must be the last-named applicant(s)
• The owner borrower(s) must meet affordability to cover a minimum of 70% of the total loan borrowed
• The supporting borrower(s) must meet affordability on the shortfall, up to a maximum 30% of the total loan borrowed
• All borrowers will be jointly and severely liable for the monthly mortgage payments and the total amount borrowed
• All borrowers must declare their current financial commitments
• All borrowers must include their own personal and household expenditure
• The supporting borrower must be residing in the UK
• Supporting borrower to receive independent legal advice
• The supporting borrower(s) cannot live in the property
• The supporting borrower(s) will not be named on the title deeds
• For joint applications, both applicants must be current or previous home owners. If one applicant is a first time buyer, the case must be place on our JBSP First Time Buyer range.

*Close family member defined as one of:

• Parents, step parents and adoptive parents;
• Brothers and sisters, half brothers and sisters, and step brothers and sisters.
• Children, step children and adopted children
• Grandparents and step grandparents
• Grandchild and step grandchild; and
• Aunt and Uncle

First Time Buyer Joint Borrower Sole Proprietor Product Criteria

• First Time Buyers only
• Free valuation fees
• Minimum age 21
• Repayment only
• Max LTV 95% inclusive of fees
• Minimum loan size: £100,000
• Maximum loan size: £500,000
• Maximum of 2 owner borrowers
• Maximum of 2 supporting borrower
• The maximum age of the Supporter at application is 70 years
• The supporting borrower must be a close family member*
• The supporting borrower must be the last-named applicant
• The owner borrower(s) must meet affordability to cover a minimum of 70% of the total loan borrowed
• The supporting borrower must meet affordability on the shortfall, up to a maximum 30% of the total loan borrowed
• All borrowers will be jointly and severely liable for the monthly mortgage payments and the total amount borrowed
• All borrowers must declare their current financial commitments
• All borrowers must include their own personal and household expenditure
• The supporting borrower must be residing in the UK
• Supporting borrower to receive independent legal advice
• The supporting borrower cannot live in the property
• The supporting borrower will not be named on the title deeds
• Applicants cannot own any other property at the time of completion (this does not apply to the supporting borrower)

*Close family member defined as one of:

• Close family member defined as one of:
• Parents, step parents and adoptive parents;
• Brothers and sisters, half brothers and sisters, and step brothers and sisters.
• Children, step children and adopted children
• Grandparents and step grandparents
• Grandchild and step grandchild; and
• Aunt and Uncle