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Joint Borrower Sole Proprietor Mortgages – A Clear Guide for Buyers (2025)

What Is a Joint Borrower Sole Proprietor Mortgage?

A Joint Borrower Sole Proprietor mortgage, commonly known as a JBSP mortgage, is a type of mortgage arrangement that allows multiple people to support an applicant’s borrowing capacity without becoming legal owners of the property. According to the guidance provided by mortgage lenders, this option is designed to assist buyers who cannot meet affordability requirements on their own but have close family members or supporters willing to help with the mortgage.

In a JBSP mortgage, up to four individuals can be added to the mortgage application to combine income and strengthen affordability. Despite this, only one person (the proprietor) is named on the property’s legal title, meaning they are the sole owner of the home. The additional borrowers contribute their income to support the mortgage application, but they do not hold any ownership rights in the property. This structure enables buyers, particularly first-time buyers, to access higher borrowing limits while keeping ownership straightforward and legally singular.

How a JBSP Mortgage Works

Under the JBSP structure, the main applicant is the legal owner of the property, while the joint borrowers support the mortgage from an income standpoint. All borrowers listed on the mortgage share responsibility for meeting monthly repayments. This means that even though the supporting borrowers do not own any part of the home, they are jointly liable for ensuring that payments are made on time.

This arrangement can be especially helpful for buyers whose personal income falls short of traditional affordability assessments. By including the income of parents, siblings, or trusted supporters, lenders can assess a higher combined income, which may result in a larger mortgage loan. However, joint borrowers must be aware that their participation may affect their own ability to secure future credit or mortgages, as their share of the JBSP mortgage will be considered within their financial commitments.

The JBSP model also allows ownership to remain with one individual for tax purposes. Because supporting borrowers are not on the property deeds, potential implications such as second-home stamp duty or capital gains tax are avoided for them. This makes JBSP mortgages particularly attractive to families assisting a first-time buyer.

Who Can Apply for a JBSP Mortgage?

Eligibility for a Joint Borrower Sole Proprietor mortgage varies by lender, but the common framework noted by mortgage providers is consistent. JBSP mortgages are generally aimed at:

First-time buyers who need income support to meet affordability
Buyers with sufficient deposit but insufficient standalone income
Individuals receiving financial support from parents or close family members
Situations where ownership should remain solely with the main applicant

The joint borrowers must meet standard mortgage assessment requirements, including credit checks, income verification, and financial stability reviews. Since they are jointly responsible for the mortgage payments, lenders evaluate their financial circumstances with the same level of detail as they do the main applicant.

JBSP mortgages are often used by families who want to help a relative step onto the property ladder without taking on shared ownership or complicating property rights. However, each lender may have additional conditions, such as limits on age or the relationship between joint borrowers and the homeowner.

Advantages of a JBSP Mortgage

A JBSP mortgage provides several advantages for borrowers who require assistance to meet affordability criteria:

Boosted borrowing capacity

The main benefit is the increased affordability. By combining multiple incomes, applicants may qualify for a higher mortgage amount than they would on their own. This can make it easier to purchase a suitable property, particularly in high-cost areas.

Sole ownership maintained

Despite the joint support, ownership remains with the primary applicant. This avoids complications around shared ownership, tax exposure, and legal rights for supporting borrowers.

Helpful for first-time buyers

JBSP mortgages are frequently recommended for first-time buyers who have a reliable support network. They allow parents or family members to assist financially without having to be co-owners.

Important Considerations

While JBSP mortgages offer meaningful benefits, there are important points to consider:

Joint borrowers are legally responsible for mortgage repayments, even without owning the property.
Supporting borrowers may find that their involvement affects their future borrowing capacity.
Legal and financial advice is recommended, especially regarding long-term implications for repayment responsibilities.
The main applicant retains full ownership rights, which must be clearly understood by all parties.

JBSP arrangements should be entered into with full awareness of responsibilities and long-term financial commitments.

How PBSBrokers Can Help

At PBSBrokers, we provide clear, personalised guidance to help you understand whether a Joint Borrower Sole Proprietor mortgage is suitable for your situation. Our team reviews your needs, affordability, and goals to identify appropriate lending options and explain your choices in a straightforward way. We offer support in English and Persian so you can move forward with clarity and confidence while exploring the best path for your mortgage journey.

Disclaimer

Mortgage criteria, lender requirements and eligibility rules may change over time. For the most up-to-date guidance relevant to your circumstances, please contact PBSBrokers.