Joint Borrower Sole Proprietor Mortgages
Boost your clients’ borrowing power with the support of a sponsor.
Whether your client is buying their first home, remortgaging, moving after a change in circumstances, or returning to the market after a break, JBSP helps increase borrowing power by combining their income with that of a sponsor. It’s a flexible solution for those who need a little extra support to make their next move.
Who is JBSP for?
JBSP is ideal for clients who:
- Are first time buyers, home movers or remortgaging
- Need additional income support to meet affordability
- Are buying on their own after a change in circumstances
- Are returning to the market after a break.
Who qualifies as a sponsor?
A sponsor is usually a close relative (but we can consider other relationships), who is added to the mortgage as a co-borrower.
To qualify, a sponsor must:
- Be a residential owner-occupier, living in the UK
- Have a minimum income of £40,000
- Be no older than 80 on repayment or 75 on interest only and part & part, at the end of the term
- Be jointly and individually liable for the full mortgage amount.
Why choose JBSP with us?
We offer a practical and supportive approach to JBSP cases, including:
- Up to 95% LTV (including fees)
- Maximum loan of £1,500,000
- Up to four applicants - only sponsor and highest earner’s income assessed
- Minimum income requirements:
- Sponsor: £40,000
- Highest earning applicant: £20,000 (no minimum if they're a student)
- Purchases and remortgages on both repayment and interest only
- Applicants must not own any other property at completion
- Sponsor must be UK based residential owner-occupier
- Sponsor needs independent legal advice as they'll have no ownership rights
- One bank account for monthly payments.
Where the term extends into retirement, refer to our lending criteria.
Borrowing power:
Borrowing power on your own
| Applicant 1 income | Applicant 2 income | Borrowing power |
|---|---|---|
| £25,000 | n/a | £112,500 |
As a single applicant, you could borrow £112,500.
Borrowing power with JBSP
| Applicant 1 income | Sponsor income | Borrowing power |
|---|---|---|
| £25,000 | £50,000 | £375,000 |
With the help of a sponsor, you could borrow £375,000.
Find out how much your client could borrow with our JBSP calculator.
Borrowing power with a partner
| Applicant 1 income | Applicant 2 income | Borrowing power |
| £32,000 | £28,000 | £300,000 |
As joint applicants, you could borrow £300,000.
Borrowing power with JBSP
| Applicant 1 income | Sponsor income | Borrowing power |
| £32,000 | £80,000 | £560,000 |
With the help of a sponsor, you could borrow £560,000.
Find out how much your client could borrow with our JBSP calculator.
Next steps?
Explore our full Residential lending criteria
To check your client's suitability for JBSP take a look at our lending criteria
Use our JBSP calculator
To see how much your client could borrow with the help of a sponsor, use our JBSP calculator
Search our JBSP product range
To see all our current rates for JBSP visit our Residential products page