JBSP Mortgages

A Joint Borrower Sole Proprietor (JBSP) mortgage lets up to four people be jointly liable for the mortgage debt while only one of them is named on the property title at HM Land Registry. The lender combines everyone's income to assess affordability, but the supporting borrower (usually a parent) has no ownership share. This boosts how much can be borrowed without changing who legally owns the home.

Most UK lenders accept parents, step-parents and grandparents. Some, such as Skipton Building Society and Barclays, also allow siblings, aunts, uncles or other close family. A handful of specialist lenders will consider close friends or unrelated supporters, but this is much rarer. The supporting borrower must usually pass affordability, credit and identity checks in the same way as the proprietor.

Most UK lenders cap a JBSP application at two to four borrowers in total: one proprietor plus one, two or three supporting borrowers. Barclays, NatWest, Halifax and Santander typically allow up to four names on the mortgage. Only one or sometimes two of those names will appear on the property deeds, depending on the lender's policy.

Only the person named on the Land Registry title owns the property. The supporting borrower is liable for the mortgage debt but has no legal or beneficial interest in the home. Most lenders require a solicitor-prepared Deed of Trust confirming this, and the supporting borrower must take independent legal advice before completion so they understand they are accepting liability without ownership rights.

Lenders add together the income of every named borrower (proprietor plus supporters) and assess affordability against the combined figure, after deducting all committed outgoings such as other mortgages, loans, credit cards and dependants. Some lenders cap the income multiple at four to four and a half times combined income, while a few will stretch to five times for professionals or higher earners.

Yes, in most cases. Because the supporting borrower is not on the title deeds, HMRC does not treat the purchase as a second property for them, so the 3% additional dwelling surcharge usually does not apply. The proprietor also keeps first-time buyer SDLT relief if they have never owned a home before. You should always get the structure confirmed by a solicitor as HMRC rules can be applied strictly.

It depends on the supporting borrower's net income and existing commitments, but it is common to see borrowing capacity increase by 30% to 80% compared with a sole application. On a typical first-time buyer scenario, adding a parent earning £45,000 a year can lift the maximum loan by £100,000 to £180,000.

Most high-street lenders require the supporting borrower to be no older than 70 to 75 at the end of the mortgage term, using earned income. A few building societies, including Skipton and Family Building Society, will go to 80 or 85 if pension and investment income can be evidenced. Older supporters often mean the lender will shorten the mortgage term, which raises monthly payments.

Active JBSP lenders in the UK currently include Barclays (Mortgage Boost), NatWest, Halifax, Santander UK, Nationwide, Skipton Building Society (Income Booster), Principality Building Society, Leeds Building Society, Metro Bank, Family Building Society, Vida Homeloans, Tipton and Coseley, Hinckley and Rugby, and Furness Building Society. Product availability and criteria change often, so it is worth speaking to a whole of market broker.

Because the supporting borrower has no beneficial interest in the property, there is no Capital Gains Tax exposure on any growth in value. They also do not receive rental income, so there is no income tax issue. If the property is later sold and proceeds are gifted to the supporting borrower, normal inheritance tax and gift rules would apply. It is sensible to take tax advice before completion.

JBSP mortgages are joint and several liability. That means the lender can pursue any named borrower for the full outstanding balance, not just their notional share. If the proprietor cannot pay, the supporting borrower must cover the shortfall to protect their own credit file. Missed payments will be recorded against every borrower's credit record.

Yes. Most arrangements are designed so the supporting borrower comes off the loan once the proprietor's income alone can support the mortgage, often after three to five years. This is done by a transfer of equity application with the existing lender, or by remortgaging to a new lender on a sole application. Lenders will reassess affordability and credit at that point, and a solicitor will update the mortgage deed.

On a guarantor mortgage the guarantor only steps in if the main borrower defaults, and they are not usually credit-checked for affordability up front. On a JBSP the supporting borrower is jointly liable from day one, their income directly counts towards affordability and their credit file is checked at application. JBSP is more flexible than a guarantor product and is offered by far more high-street lenders today.

On a standard joint mortgage every borrower is also a joint legal owner of the property. That means they all share in any equity growth, all face the second-property SDLT surcharge if they already own a home, and all have rights of occupation. On a JBSP only one person is on the deeds, so the others avoid both the ownership exposure and the SDLT surcharge.

Only with a small number of lenders. Skipton's 100% Track Record mortgage and a handful of guarantor-style 100% LTV products do allow a non-owner-occupier supporter on the application. Most other 100% LTV deals are sole-applicant only. Speak to a specialist broker if you want to combine JBSP with no deposit, as the criteria stack is narrow.