Joint Borrower Sole Proprietor Mortgages (JBSP) lets you purchase a property with help from up to four supporters, often parents or family members, who contribute their income to boost affordability. Only one person owns the home, but everyone’s income is considered in the mortgage application. It’s an innovative solution for families who want to help without appearing on the property deeds.
Curious how it works? Here’s what you need to know.
What Is a JBSP Mortgage?
A Joint Borrower Sole Proprietor mortgage allows multiple people to support a mortgage application without being named on the property title. This means one person owns the home, while others (usually parents or close relatives) help with the loan, thereby improving affordability.
This is especially useful for:
- First-time buyers with limited income
- Parents helping children buy their first home
- Borrowers with variable income or career starters
- Families supporting younger or older relatives
Benefit: The non-owning party’s income is considered by the lender, but they won’t be on the deeds—avoiding stamp duty surcharge implications for second home ownership.
How Does It Work?
- The sole proprietor is the legal owner and lives in the home.
- One or more joint borrowers are added to the mortgage to increase borrowing capacity.
- The joint borrowers are not on the title deeds.
- Mortgage repayments are shared or supported by all borrowers.
⚠️ Important: All borrowers are jointly liable for the full mortgage, even if they don’t live in the property. Always seek mortgage advice from a qualified adviser.
Key Benefits of a JBSP Mortgage
- Increased affordability by combining incomes
- Avoid stamp duty surcharge for supporting parents who already own a home
- Sole ownership protects first-time buyer status
- Flexible term options depending on the age of borrowers
- Ideal for graduate buyers, career starters, or those with fluctuating income
Explore how our first-time buyer mortgage solutions complement the JBSP model.
Eligibility & Lender Criteria
Lenders will assess:
- Credit history of all borrowers (see adverse credit options)
- Combined income of all applicants
- The sole proprietor’s intent to live in the property
- Age of all borrowers (which may limit the mortgage term)
Our mortgage advisers work with over 200 lenders and providers to find the right fit for your situation.
How Does a JBSP Mortgage Differ from a Joint Mortgage?
The main distinction between a Joint Borrower Sole Proprietor (JBSP) mortgage and a traditional joint mortgage lies in ownership.
With a JBSP mortgage, not all borrowers become legal owners of the property. Only the named sole proprietor is listed on the title deeds and is responsible for Stamp Duty (if applicable). Supporting borrowers, often family members, help with affordability but have no legal ownership of the property, though they are equally liable for the mortgage debt.
In contrast, a joint mortgage is designed for people who buy and own a property together. Everyone named on the mortgage is also listed on the title and shares ownership, responsibilities, and liabilities.
Other Family-Support Options to Consider
While JBSP mortgages are a popular way for families to assist loved ones onto the property ladder, there are alternatives:
- Guarantor Mortgage: A parent or close relative acts as a guarantor, using savings or their home as security, allowing the buyer to obtain a mortgage with little or no deposit.
- Tenants-in-Common Mortgage: Two or more people purchase a property together, but each owns a distinct share, which can be sold or passed on separately.
- Shared Ownership: A scheme (often backed by housing developers or housing associations) where you purchase a portion of a home with a mortgage and pay rent on the remaining share.
- Rent to Buy: A government-backed scheme where tenants pay reduced rent on a new-build home while saving toward a deposit, with the option to purchase a share or the entire property in the future.
| Advantages | Disadvantages |
|---|---|
| Family members (typically parents) can support your mortgage application even if they do not own the home. | All applicants are jointly liable for the entire mortgage, regardless of who lives in the property. |
| You can take full ownership and sole responsibility when your income grows over time. | Some lenders may restrict occupancy to the sole proprietor only. |
| Additional borrowers are exempt from the second-home stamp duty surcharge because they’re not on the property deeds. | JBSP mortgages are generally ineligible for government schemes such as Help to Buy. |
| Get onto the property ladder earlier—even with a lower income. | The age of the oldest borrower may limit the maximum mortgage term. |
| Wide range of loan-to-value (LTV) options and repayment terms from multiple lenders. |
Real-Life Example
Alex, a 26-year-old graphic designer, could only borrow £150,000 alone, far short of London prices. With his mother added as a joint borrower (but not on the deeds), his affordability increased by £70,000. He bought his flat without needing her to co-own it.
JBSP mortgages helped make it possible.
Things to Consider
- All parties are financially liable for the full mortgage
- Exit strategy matters: discuss how and when joint borrowers will be removed in future
- Not all lenders offer JBSP mortgages. Expert advice is essential
- Inheritance tax planning and legal implications should be reviewed with a solicitor
Need clarity? Use our mortgage calculators or speak with a member of our team today.
Why Choose Connect Mortgages?
- 25+ years of experience
- FCA-regulated advisers
- No upfront fees
- Access to exclusive JBSP mortgage deals
- UK-wide service with face-to-face and remote advice
Whether you’re planning your first home or helping someone else get on the ladder, our expert advisers make the complex simple.
Thank you for reading our “Mortgage Approval Process | Key Steps in Getting a Mortgage” publication. Stay “Connect“-ed for more updates soon!
FAQs – Joint Borrower Sole Proprietor Mortgages
Can a parent help without being on the deeds?
Yes, that’s the core purpose of a JBSP mortgage. Your parent supports the mortgage but doesn’t own the property.
Does the non-owner pay stamp duty?
No. Only the legal owner is assessed for stamp duty, which helps families avoid second-home surcharges.
Can the joint borrower be removed later?
Yes. Many lenders allow a transfer of equity or a remortgage when the main borrower can afford the mortgage on their own.
Who can be a joint borrower on a JBSP mortgage?
Typically, parents, adult siblings, or close relatives. Some lenders may allow friends, but all parties must pass affordability checks.
What if the joint borrower has other financial commitments?
Their existing debts and financial obligations will be factored into the affordability assessment. It’s vital to review this with a mortgage adviser.
Does the joint borrower need to live in the property?
No. The joint borrower is not required to live in the home. Only the sole proprietor is expected to reside there.
Will the joint borrower’s credit score impact the mortgage?
Yes. Lenders assess creditworthiness for all borrowers. Adverse credit on either party can affect approval or interest rates.
Can I get a JBSP mortgage as a self-employed applicant?
Yes, but lenders may request additional documentation. Having a joint borrower can help improve affordability if income is variable.
