Joint Borrower Sole Proprietor (JBSP) Mortgages

 A JBSP mortgage can be a practical solution for buyers who need extra income support to get on the property ladder. It allows a family member or another person to help with the mortgage repayments without being a legal owner of the property.

At SND Mortgages, we guide you through how JBSP works, which lenders offer it, and whether it fits your long-term goals.

A JBSP mortgage allows two or more people to be on the mortgage, but only one person owns the property. This is often used when a parent helps their child buy their first home by using their income to boost affordability, while keeping the legal ownership solely in the child’s name.

Supporting borrowers are typically close family members, such as parents or siblings, though some lenders will also accept partners or friends. They must meet income and credit criteria, and be comfortable sharing responsibility for the mortgage payments.

We’ll help assess who can be included and what level of contribution is required to meet the lender’s affordability rules.

JBSP is often used when the additional borrower does not need or want to be named on the property's legal title. This can avoid additional stamp duty charges, especially if the supporting party already owns another property.

It also offers a stepping stone for buyers who cannot yet borrow enough based on their own income alone, but want to retain sole ownership of the home.

The supporting borrower is legally responsible for the mortgage alongside the main borrower, even though they do not own the property. If payments are missed, their credit record could be affected, and they may be pursued for arrears.

We will always explain these risks clearly and ensure everyone involved fully understands the legal and financial responsibilities before applying.

Yes, once the main borrower’s income increases or their affordability improves, it may be possible to remortgage in their name only. This depends on lender criteria at the time and the applicant’s financial position.

We’ll review your case regularly and let you know when it’s the right time to switch to a sole mortgage if that is your goal.