What is a Joint Borrower Sole Proprietor Mortgage?

Young adult first-time buyer at laptop with parent getting mortgage

Navigating the world of mortgages can often feel like learning a new language. Among the various options available, one that frequently catches the eyes of prospective homeowners in the UK is the Joint Borrower Sole Proprietor (JBSP) mortgage. This type of mortgage arrangement can be a useful tool, particularly for first-time buyers or those facing challenges in securing sufficient borrowing on their own.

Let’s delve into what a JBSP mortgage is, how it works, and why it might be the right choice for you.


Understanding the JBSP Mortgage

A Joint Borrower Sole Proprietor mortgage allows multiple people to be assessed for a mortgage loan, whilst not being on the title of the property itself. This means that while one or more additional borrowers help in meeting the lending criteria and servicing the loan, they do not have legal ownership over the property.


Who is Involved?

Typically, a JBSP mortgage involves parents and their child. The parents (or other family members) are the joint borrowers, assisting the main borrower (the child) in meeting the income requirements set out by lenders to qualify for a mortgage, although this can sometimes also work the other way round. The key point is that despite contributing to the mortgage payments, the joint borrowers do not have their names on the property deeds.


Benefits of a JBSP Mortgage

Increased Borrowing Capacity: By combining incomes, borrowers can potentially qualify for a larger loan than they would on their own, enabling them to purchase a property that better suits their needs.

Avoidance of Additional Stamp Duty: Since the additional borrowers do not have an ownership stake in the property, they are not subject to additional stamp duty charges that might apply if they were purchasing a second home.

Support for First-Time Buyers: This mortgage type is particularly advantageous for young adults and first-time buyers entering the property market, who may not have the requisite income to secure a mortgage independently but can do so with parental support.


Considerations and Risks

While the benefits are significant, there are considerations and risks associated with JBSP mortgages:


Financial Dependency: All borrowers are jointly and severally liable for the mortgage, meaning lenders can pursue any one of the borrowers for payments if the others are unable to pay.

Impact on Credit: The mortgage will appear on the credit report of all involved parties, potentially affecting their ability to secure loans in the future.

Mortgage Term: As it often involves parents helping children, the age of parents can act as a restriction to the maximum mortgage term available and lead to higher monthly repayments.


How Does a JBSP Mortgage Work?

Application Process

The process for applying for a JBSP mortgage is similar to other mortgage applications. The incomes of all borrowers are considered together to determine the mortgage amount. Lenders will also conduct affordability checks to ensure all borrowers can manage the repayments.

Legal Framework

It is crucial for all parties involved to understand the legal implications. This usually requires independent legal advice to ensure that the responsibilities and rights of each party are clearly defined and understood.

Mortgage Terms and Exit Strategy

Given the nature of JBSP mortgages, having a clear exit strategy is essential. This might involve the main borrower refinancing the mortgage solely in their name once their financial circumstances improve, or it may include provisions for what happens should the relationship between the borrowers change.

Who Offers JBSP Mortgages?

Not all lenders offer JBSP mortgages, so it may require some research to find one that does. This is when speaking to a mortgage broker or advisor can be incredibly beneficial. Our in-house experts understand the market and can advise on the best lenders who specialise in this type of mortgage. They can also help to present your financial situation in the best light to potential lenders.  



A Joint Borrower Sole Proprietor mortgage can be a valuable tool for those struggling to get onto the property ladder by themselves. It allows family members or other trusted individuals to help without the need for joint ownership. This arrangement increases the borrowing power whilst circumventing potential additional costs like stamp duty on a second home.

However, as with any financial decision, it’s important to consider the implications thoroughly. Ensure that all parties understand their responsibilities, the impact on their finances, and have plans in place for any foreseeable changes in circumstances. With the right planning and advice, a JBSP mortgage could be the stepping-stone to home ownership that many first-time buyers need.


If you’d like help with an Agreement in Principle (AIP), your mortgage application, or protection products available, contact one of our friendly advisors who would be happy to have a chat and help guide you through it all.

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