Helping you buy your home with family support with a Joint Borrower Sole Proprietor (JBSP) Mortgage
JBSP MORTGAGE EXPLAINED
Whether you’re in Aberdeen, London, or anywhere in the UK, our expert team provides clear, friendly Joint Borrower Sole Proprietor (JBSP) mortgage solutions.
A Joint Borrower Sole Proprietor Mortgage is a smart way to get on the property ladder with the financial help of a family member—without giving up ownership of your home.
At Hay-House Financial Services, we specialise in guiding first-time buyers through the Joint Borrower Sole Proprietor (JBSP) process, helping you maximise affordability while keeping the property title in your name only.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A Joint Borrower Sole Proprietor Mortgage allows multiple people—usually up to four—to apply for a mortgage together, using their combined income. However, only one person (or a couple) is named as the legal owner of the property. This is especially useful for buyers who need financial backing but don’t want their co-borrowers to be on the title deeds.
It’s ideal for first-time buyers, younger professionals, or anyone struggling to meet affordability requirements on their own.
- Boosts borrowing power using a parent’s or family member’s income
- Sole ownership means you’re the only one on the property deeds
- Avoids second home stamp duty for co-borrowers
- Flexible exit options when your income improves
- No shared equity or legal complications for family supporters
Is a JBSP Mortgage right for you?
A Joint Borrower Sole Proprietor Mortgage could be the right choice if:
- You’re a first-time buyer with a lower income
- A parent, sibling, or friend is willing to support you
- You want full property ownership
- You’re planning to take over the mortgage solo in future
- You want to avoid additional stamp duty or land tax for your helper
How a Joint Borrower Sole Proprietor Mortgage works
Combined Income Assessment
Your income is combined with your co-borrower’s (usually a parent), increasing how much you can borrow.
Sole Ownership Protection
Only your name goes on the property title, so you retain 100% ownership.
Shared Mortgage Responsibility
Everyone on the mortgage is jointly responsible for repayments—even if they don’t own the home.
Future Flexibility
Once your income grows, your co-borrower can be removed from the mortgage.
Pros and considerations
Advantages:
- Boosts mortgage affordability
- Retains full property ownership
- Avoids triggering second property taxes
- Flexible exit strategy once your income increases
Things to Consider:
- Co-borrower shares financial liability
- May affect co-borrower’s credit and borrowing power
- All parties must receive legal advice
- Some lenders will consider the co-borrower’s age
Real-life example
Sophie, aged 27, found her dream flat priced at £300,000 but could only borrow £200,000 on her salary.
Her father joined as a co-borrower. Using their combined income, they secured a Joint Borrower Sole Proprietor Mortgage for the full amount. Sophie remained the sole property owner, and her dad avoided second home stamp duty.
Why Choose Hay-House Financial Services?
- Specialists in Joint Borrower Sole Proprietor Mortgages
- Direct access to JBSP-friendly lenders
- Expert advice tailored to your circumstances
- Full support from mortgage application to legal and protection services
- Clear, jargon-free communication throughout your journey
Ready to Buy with Family Support?
We’re here to help you secure the right Joint Borrower Sole Proprietor Mortgage for your future. Whether you’re applying with a parent, sibling, or friend, we’ll guide you every step of the way. Contact Hay-House Financial Services today for expert advice.
Call us on 07502 523238 or Email sl@hay-house.co.uk to book your consultation today for expert, financial advice you can trust.