Table of Content
Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.
What is a JBSP mortgage?
A joint borrower sole proprietor mortgage is designed to help people secure a mortgage who don’t quite have the income that is required but have the assistance of a friend or family member.
A JBSP mortgage allows multiple people to be named on the mortgage for affordability purposes and their incomes considered. However, only one of the applicants is named on the title deeds and owns the property.
Most lenders will insist that only one person lives in the property.
How does a JBSP mortgage work?
A Joint Borrower Sole Proprietor (JBSP) mortgage allows multiple borrowers to be named on the mortgage, while ownership of the property remains with just one person. All named borrowers are jointly responsible for the mortgage payments, even though not everyone appears on the property title.
JBSP mortgages are commonly used by parents supporting a child’s purchase, but they can also be effective in other situations. Examples include siblings helping an older parent with limited income, former partners supporting an existing mortgage without joint ownership, or one partner assisting another while avoiding additional stamp duty implications that can arise from being named on the property deeds.
Because all borrowers are fully liable for the mortgage, lenders will assess each party’s income, credit profile, and financial commitments. If one borrower is unable to meet their share of the payments, the others must cover the shortfall to avoid arrears or damage to their credit records.
What is the criteria for a JBSP mortgage?
A Joint Borrower Sole Proprietor mortgage is assessed in a similar way to a standard mortgage, but with additional considerations due to the number of borrowers involved.
Lenders will typically assess:
- Income and outgoings for all named borrowers
- Existing mortgage or rental commitments for each applicant
- Credit history across all parties
- The age of the oldest borrower, which often determines the maximum mortgage term
Where older parents or relatives are included, the available term may be shorter, which can increase monthly repayments. In some cases, longer terms may still be possible if the supporting borrower is assessed on retirement income.
Criteria can vary widely between lenders, including:
- Whether the supporting borrower is allowed to live in the property
- Whether the supporter can contribute towards the deposit
- Whether the main buyer must meet a minimum income requirement (often around £20,000–£25,000)
Almost all lenders require the buyer and supporting borrower to obtain independent legal advice due to the shared liability and differences in property ownership.
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How is Stamp Duty calculated on a JBSP mortgage?
JBSP mortgages became far more widely used after the introduction of the higher stamp duty surcharge on additional properties. Before this change, a standard joint mortgage was often used where an extra income was needed to support an application.
With a traditional joint mortgage, all borrowers are named on the title deeds. Stamp duty is then assessed based on the status of every owner, meaning that if one party already owns property, the higher rates apply to the entire purchase.
A JBSP mortgage works differently. Multiple borrowers can support the mortgage, but only one person is named on the property title. Stamp duty is therefore calculated solely on the buyer’s status, not the supporting borrower’s.
This distinction can have a significant impact on stamp duty costs. As at January 2026, a first-time buyer purchasing a property for £300,000 would pay no stamp duty. By contrast, a buyer treated as purchasing an additional property would face a stamp duty bill of £17,500, reflecting the standard rates plus the 5% additional property surcharge. Using a JBSP mortgage instead of a standard joint mortgage can therefore result in a substantial saving where a supporter already owns property.
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Which lenders offer JBSP mortgages?
Many lenders offer Joint Borrower Sole Proprietor (JBSP) mortgages, including mainstream and specialist lenders. Some examples include:
- Clydesdale
- Metro
- Barclays
- Skipton
- Furness
- Natwest
What alternatives to JBSP are there?
Here are some of the alternatives to a JBSP mortgage. Here’s some more information about each:
- Buy alone: You could choose to buy a property on your own, which may be more affordable but could limit the size or location of the property you can purchase.
- Wait and save: You could choose to wait and save up a larger deposit to increase your chances of being approved for a mortgage on your own.
- Gifted deposit: You could receive a gifted deposit from a family member or friend to increase the size of your deposit and improve your chances of getting approved for a mortgage on your own.
- Shared ownership: You could choose to purchase a property through a shared ownership scheme, which allows you to buy a portion of the property and pay rent on the remaining share.
- Joint mortgage: You could choose to apply for a joint mortgage with another borrower who will also be responsible for making repayments on the loan.
Speak to a JBSP mortgage expert for the best deal.
What else to consider on a JBSP mortgage?
There’s a lot to consider when taking out a JBSP mortgage. Here are a few things to think about.
- Seek legal advice: As with any major financial commitment, it is important to seek legal advice before entering into a JBSP mortgage agreement. A solicitor can help you understand the legal implications of this type of mortgage and ensure that you fully understand your obligations.
- Consider other options: While a JBSP mortgage can be a good solution for some borrowers, it is important to consider other options as well. For example, you may be able to save up a larger deposit to qualify for a traditional mortgage or explore other types of guarantor or joint mortgages.
- Plan an exit strategy: Before entering into a JBSP mortgage, it is important to have a clear exit strategy in place. For example, if the person named on the mortgage but not residing in the property wants to be removed in years to come, will you be able to remortgage or need to sell the property?
- Take out insurance: To protect yourself and your co-borrower, it is important to take out appropriate insurance. This could include life insurance, critical illness insurance or income protection insurance.
- Plan for the future: It is important to consider how the JBSP mortgage will impact your long-term financial plans. For example, will you be able to afford mortgage repayments if interest rates rise? Can you afford to maintain the property if unexpected repairs are needed?
Is a JBSP mortgage right for me?
Whether a joint borrower sole proprietor (JBSP) mortgage is right for you depends on your individual circumstances and needs. A JBSP mortgage may be suitable if you are looking to purchase a property with the help of a family member or friend who wants to assist with the mortgage but does not want to be named on the title deeds. It may also be an option if you need to borrow more than you would be able to on your own but want to maintain sole ownership of the property.
However, there are also potential drawbacks to consider, such as restricted terms for elder relatives, limited availability from lenders, and the possibility of strain on the relationship with the co-borrower. It’s important to weigh the pros and cons and to speak with a mortgage broker or financial advisor who can help you determine if a JBSP mortgage is the right option for you.
How can Strive help with a JBSP mortgage?
There are lots of considerations when buying a home and even more so when involving a friend or family member. It can be of real comfort to have an experienced mortgage broker to help you understand the options available to you and help you decide if a JBSP mortgage is possible and right for you.
At Stive we can help you with a JBSP mortgage in several ways:
- Assessing your eligibility: A broker can help you determine whether a JBSP mortgage is the right option for you based on your financial circumstances and goals.
- Finding the right lender: A broker can search the market and find the right lender that offers JBSP mortgages that fit your specific needs.
- Maximising your chances of approval: A broker can help you improve your chances of approval by presenting your application in the best light possible, highlighting the strengths of your case and addressing any weaknesses.
- Explaining the process: A broker can guide you through the entire mortgage process, from application to completion, and ensure that you understand all the terms and conditions of your mortgage.
- Providing ongoing support: A broker can provide ongoing support and advice throughout the term of your mortgage, ensuring that you stay on track and achieve your financial goals.
For more information about joint borrower sole proprietor mortgages, call us on 0330 043 1121, or get started on your joint borrower sole proprietor mortgages journey.
The rates for a JBSP mortgage will vary depending on your circumstances and the market conditions. Not all lenders offer them, so you will have a more limited choice than on a traditional mortgage. Additionally, some lenders have specific JBSP mortgage products, which can have higher rates.
The number of people who can be named on a joint borrower sole proprietor mortgage can vary between lenders, but generally, up to 4 people can be named. However, in most cases, only the income of 2 or 3 of the borrowers can be used for affordability purposes
The maximum age for a joint borrower sole proprietor (JBSP) mortgage varies among lenders, but it’s typically capped at age 70 to 75 based on the age of the eldest borrower. Some lenders may allow borrowers up to age 80.
It’s important to check with the individual lender as their criteria may vary.
The affordability of a JBSP mortgage is the same as a Joint mortgage. However, there are likely to be two residential costs to consider, either another mortgage or rental costs, which can have a massive impact on affordability.
Often, the other borrower is an elder relative, so the terms can be restricted, which can limit affordability as well. To find out your affordability, it’s best to speak to a broker.
A joint borrower sole proprietor (JBSP) mortgage allows more than one person to be named on the mortgage but only one person to be named on the title deeds. This means that only one person is responsible for the legal ownership of the property.
In contrast, a joint mortgage allows multiple borrowers to be named on both the mortgage and the title deeds, meaning all borrowers can be used for affordability purposes.
A JBSP mortgage is a mortgage where two or more borrowers are jointly responsible for the mortgage payments, but only one borrower is named as the sole proprietor of the property. This is often used in situations where one borrower has a higher income and can afford a larger mortgage, but the other borrower(s) may not have enough income to be named on the mortgage. This can help increase the amount that can be borrowed as the lender takes into account the income and creditworthiness of all borrowers.
A guarantor mortgage, on the other hand, is where a third party (usually a family member) guarantees the mortgage payments if the borrower is unable to make them. The guarantor is not named on the title deeds and does not have a legal interest in the property. This can help someone with a lower income or a limited credit history to get a mortgage, as the guarantor provides additional security to the lender.
Yes, some lenders do offer a buy-to-let joint borrower sole proprietor (JBSP) mortgage. This type of mortgage is similar to a regular JBSP mortgage, but it is designed for those who want to purchase a buy-to-let property with a co-borrower, but only one person will be the legal owner of the property.
This can potentially save thousands of pounds in additional stamp duty if the co-borrower already owns another property and does not want to be named on the title deeds.
Yes, once you’re in a position where you can afford the mortgage in your own name, you could apply to remove the other applicant from your existing mortgage or remortgage to a new lender in your sole name.
You will need to meet the lender’s criteria and affordability assessment based on your own income.
Most lenders will require a minimum 10-15% deposit for a JBSP mortgage, and some consider 5%
