Joint Borrower Sole Proprietor (JBSP) Mortgage

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

A Joint Borrower Sole Proprietor (JBSP) mortgage allows a family member, often a parent, to help a first-time buyer or home mover by guaranteeing part of the mortgage. This can help the borrower access a larger mortgage or meet lender affordability criteria, while the guarantor does not formally own the property. JBSP arrangements are useful in specific circumstances, but they carry financial responsibilities for both parties.

We provide clear, tailored advice on whether a JBSP arrangement may be suitable, considering your personal and financial circumstances. Recommendations are subject to lender criteria, affordability assessments, and risk disclosure. It is important that both borrower and guarantor fully understand their obligations, the potential risks, and how long the guarantee lasts, as failure to meet repayments could affect credit records and financial security.

A JBSP mortgage is not a risk-free option. We help explain the potential implications for both borrower and guarantor, ensuring decisions are informed and aligned with long-term plans. We also discuss whether other support mechanisms, such as gifted deposits or protection solutions, could complement the arrangement.

• First-time buyers needing additional support
  Borrowers who may not meet lender affordability criteria on their own can benefit from a family member acting as a guarantor.

• Home movers requiring a larger mortgage
  Existing homeowners looking to move may use a JBSP arrangement to access additional borrowing without the guarantor taking ownership.

• Parents or family members willing to help
  Individuals who are financially able and willing to support a relative’s mortgage can act as guarantors, understanding the obligations involved.

• Borrowers with limited deposit
  Those who cannot raise a large enough deposit may benefit from a JBSP guarantee to satisfy lender requirements.

• Families seeking short-term support
  Suitable for borrowers and guarantors looking for a temporary arrangement to enable property purchase, with clear understanding of repayment and risk.