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.

Joint Borrower Sole Proprietor Product Criteria

• Free valuation fees
• Minimum age 21
• Repayment only
• Max LTV 95% inclusive of fees
• Minimum loan size: £30,000
• Maximum loan size: £500,000
• Maximum of 2 owner borrowers
• Maximum of 1 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)
• For joint applications, one applicant must be a First Time Buyer. If the second applicant is not a First Time Buyer, they must not have another mortgage outstanding at the time of the application 

*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