Joint Borrower Sole Proprietor Mortgage Calculator
Combine your income with a close relative’s to boost how much you could borrow. With a Joint Borrower Sole Proprietor mortgage, only you own the property.
A Joint Borrower Sole Proprietor (JBSP) mortgage is a type of family-assist property loan where multiple people are legally responsible for making the mortgage payments, but only one person actually owns the property. It is specifically designed to help buyers (often first-time buyers) who cannot borrow enough money on their own due to a lower salary.
How It Works
- On the Mortgage (The Borrowers): Typically, a child and one or both parents apply together. All of their incomes are combined by the lender to boost the total amount of money they can borrow. Everyone on the mortgage is 100% legally responsible for making sure the monthly payments are made.
- On the Property Deeds (The Owner): Only the child’s name is listed on the property deeds (the Land Registry). The parents have no legal ownership or claim over the house.
This is an estimate only. Your actual maximum borrowing will depend on things like existing credit commitments, the mortgage term, and what income lenders will accept. Contact us for an accurate figure and full advice.
FAQ: Joint Borrower Sole Proprietor Mortgage Calculator
How much can I borrow with a JBSP mortgage?
The amount you can borrow with a JBSP mortgage depends on the combined income of the applicants, as well as their debts, financial commitments, mortgage term and the lender’s affordability criteria. Use our Joint Borrower Sole Proprietor mortgage calculator for an estimate of your potential borrowing.
Who can be a joint borrower on a JBSP mortgage?
This depends on the mortgage lender. Parents or close family members commonly support a buyer through a Joint Borrower Sole Proprietor mortgage, although some lenders may consider other relationships. Eligibility, age limits, affordability requirements and acceptable applicants vary between lenders.
This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender. You should make an appointment to receive mortgage advice which will be based on your needs and circumstances.