With the average UK house price now surpassing £300,000, according to Halifax, mortgage affordability remains one of the biggest barriers facing buyers, particularly first-time buyers trying to secure their first home.
In response to growing affordability challenges, Hinckley & Rugby Building Society has enhanced its mortgage criteria, introducing flexible solutions designed to help borrowers overcome income and deposit hurdles.
The lender is highlighting two key affordability tools: its Joint Borrower Sole Proprietor (JBSP) mortgage and its broad-ranging Income Flex policy, both aimed at turning mortgage declines into approvals.
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Joint Borrower Sole Proprietor (JBSP) Mortgages
A Joint Borrower Sole Proprietor mortgage (often referred to as a JBSP mortgage) allows multiple applicants to support a mortgage application without all parties being named on the property deeds. Hinckley & Rugby’s JBSP criteria is notably flexible and designed to help first-time buyers who need support from family, or even non-family members, to boost affordability.
Key features include:
- Up to four borrowers on a joint application
- Family and non-family applicants accepted
- Affordability calculated at 4.49x income for the two highest earners
- Additional applicants assessed at 1x income
- Only the main purchaser appears on the property deeds
- Available up to 90% loan-to-value (LTV)
This structure enables parents, relatives, friends or other supporters to help increase the amount that can be borrowed, without giving them ownership of the property.
The society also offers tailored mortgage term options where there is a significant age gap between applicants. For example, the younger applicant’s borrowing may be assessed over a maximum term, while an older supporting applicant’s contribution can be structured over a shorter term.
For buyers struggling with mortgage affordability, particularly in higher-priced regions, JBSP mortgages are increasingly becoming a practical route onto the property ladder.
Income Flex Mortgage
Affordability challenges are not limited to deposit size. Many borrowers, especially self-employed applicants, contractors and those with variable income, struggle to meet traditional high street lending criteria.
Hinckley & Rugby’s Income Flex policy is designed to address this issue by accepting a wide range of income types, including:
- Net profits plus salary
- Projected income
- Declining profits
- One year’s accounts
- Most recent year accounts
- Contracted income (day-rate, fixed-term or short-term contracts)
- CIS workers under PAYE
- 100% of bonus, commission and overtime
- Benefits and tax credits
- Investment income
- Lodger income
- Stipend and bursary income
- Tronc payments
- Zero-hour and agency work
- Bank and locum work
- Income during probation periods
Importantly, Income Flex is currently available at up to 95% LTV, meaning borrowers with smaller deposits may still qualify.
For applicants who have been declined elsewhere due to complex income structures, this approach may offer a viable solution.
Addressing Mortgage Affordability in a £300,000+ Market
With average property prices continuing to rise, affordability remains a critical concern for:
- First-time buyers
- Borrowers with smaller deposits
- Self-employed applicants
- Contractors and agency workers
- Clients with multiple or variable income streams
Specialist building societies like Hinckley & Rugby are increasingly playing a role in filling gaps left by more rigid high street lenders.
Louis Mason, Head of Marketing and Communications at London-based mortgage adviser Oportfolio Mortgages, commented:
“Mortgage affordability is the biggest hurdle we see in the current market, particularly with average property prices now above £300,000. Lenders like Hinckley & Rugby Building Society are demonstrating how flexible underwriting and broader income assessments can genuinely help first-time buyers and complex applicants secure the homes they want.
As brokers, having access to lenders with innovative criteria like JBSP and Income Flex gives us more options to turn difficult cases into successful outcomes.”
Why Flexible Mortgage Criteria Matters in 2026
As lenders adapt to economic pressures, higher living costs and evolving employment patterns, flexible mortgage criteria is becoming increasingly important.
More borrowers now fall outside traditional employment models. For these applicants, understanding which lenders offer enhanced affordability assessments can make the difference between approval and rejection.
How a Mortgage Broker Can Help with Affordability Issues
Navigating mortgage affordability criteria can be complex, particularly when considering options such as:
Joint Borrower Sole Proprietor mortgages
- High loan-to-value mortgages (90–95% LTV)
- Mortgages for self-employed borrowers
- Mortgages using projected or variable income
An experienced mortgage broker can:
- Identify lenders with flexible affordability models
- Structure JBSP applications correctly
- Present complex income in a way underwriters understand
- Compare high LTV mortgage options
- Advise on deposit strategies and supporting applicants
For buyers concerned about being declined due to affordability, working with a whole-of-market adviser significantly increases the chances of success.
Turning “No” into “Yes”
With UK property prices remaining elevated and affordability stretched, lenders offering flexible income assessments and JBSP mortgage options are becoming increasingly relevant.
Hinckley & Rugby Building Society’s updated approach, including JBSP up to 90% LTV and Income Flex up to 95% LTV, provides practical routes for first-time buyers, self-employed applicants and borrowers with complex income.
In a competitive and evolving mortgage market, solutions like these could help more people secure a mortgage and take their next step onto the property ladder. And with the help of a specialist mortgage adviser, you can make the dreams of home ownership a reality.
Find out how much you could borrow, speak to a broker.
Frequently Asked Questions
What is a Joint Borrower Sole Proprietor (JBSP) mortgage?
A Joint Borrower Sole Proprietor mortgage allows multiple applicants to support a mortgage application, but only one person owns the property. It is commonly used by first-time buyers who need help from parents or family members to increase affordability without sharing ownership.
How does a JBSP mortgage improve affordability?
With a JBSP mortgage, lenders assess the income of supporting applicants alongside the main borrower. This increases the total borrowing potential, helping buyers secure higher loan amounts without adding additional owners to the property deeds.
Can you get a mortgage with only one year of accounts?
Some lenders, including Hinckley & Rugby Building Society under their Income Flex criteria, may consider applicants with just one year of accounts or use the most recent year’s figures, depending on circumstances.
Can bonuses and commission be used for mortgage affordability?
Yes. Certain lenders will consider up to 100% of bonus, commission and overtime income when calculating affordability, subject to underwriting assessment.
What is a 95% LTV mortgage?
A 95% loan-to-value mortgage allows buyers to purchase a property with a 5% deposit. This can help first-time buyers who struggle to save larger deposits.
How can a mortgage broker help with affordability issues?
A mortgage broker can assess your income structure, identify lenders with flexible criteria, structure applications such as JBSP correctly, and increase your chances of approval if you’ve previously been declined.
