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Joint Borrower Sole Proprietor mortgages
A Joint Borrower Sole Proprietor (JBSP) mortgage allows you to add another person (or people) to your mortgage - without sharing ownership of the property.
By taking another applicant’s earnings into account, a JBSP mortgage can help you meet your lender’s affordability criteria. It can even help you borrow more. Your supporter will be jointly responsible for paying the mortgage, but they won’t legally own the property at all or appear on the deeds.
How does a JBSP mortgage work?
Team up with a loved one
This can be a parent, family member or even a friend willing to help you get on the property ladder. It’s important to only apply with people you trust, though. Sharing a mortgage with other people is a big commitment and can have significant consequences if one of you doesn’t keep up with your share of the payments
Compare your mortgage options
You’ll need to research suitable lenders and mortgage deals - a broker can help to make this more straightforward. It could be a good idea to get a mortgage agreement in principle to find out how much you might be able to borrow collectively
Apply for the mortgage
All borrowers apply for the mortgage together. You’ll all need to meet the lender’s eligibility criteria, and provide necessary documents such as proof of ID, proof of income and bank statements
Go through affordability and credit checks
Your lender will assess your combined financial situation (income, outgoings, credit history) to determine overall affordability and creditworthiness. They’ll also complete a property valuation. If your lender’s happy with everything, they'll issue a formal mortgage offer.
Obtain independent legal advice
Non-owner borrowers will need to get independent legal advice to ensure they understand their liabilities.
Complete
The property’s legal ownership will be registered solely in the name of the proprietor. However, all borrowers named on the mortgage are equally responsible for making the monthly mortgage payments (though you may decide that it’s affordable for the sole proprietor to make the payments on their own)
Let’s say you earn £25,000 and want to buy a £200,000 home with a 10% deposit (so you’ll need to get a mortgage for £180,000). On your own, depending on your situation and your outgoings, you may be able to borrow around 4.5 times your income - so roughly £112,500.
Now let’s say a family member is willing to help. They earn £50,000. Combining your incomes potentially gives you a total income of £75,000 - likely more than enough to borrow the money you need to buy the property you want.
Compare JBSP mortgages
Our broker partner, Mojo Mortgages, can help to compare your mortgage options and recommend the right deal for you and your circumstances. Tell them a bit about you to get free expert advice on Joint Borrower Sole Proprietor mortgages.
Opting for a Joint Borrower Sole Proprietor mortgage and sharing responsibility for your mortgage repayments is a big decision. However, having that extra support can make a difference to whether you qualify for a mortgage and how much you can borrow. ”Jason McDonald, Mortgage Expert
Who is a JBSP mortgage for?
A Joint Borrower Sole Proprietor (JBSP) mortgage is specifically designed for individuals who need to increase their borrowing power to buy a home, while ensuring that they retain sole legal ownership of the property. This arrangement is particularly beneficial for:
First-time buyers struggling to meet income requirements on their own
Individuals who may have a sufficient deposit saved up, but whose income alone might not be enough to qualify for the mortgage they need
Existing homeowners who might need support to secure a mortgage, remain in their home or remortgage
Family members keen to support their loved ones, without becoming the legal owner of the home themselves
Pros and cons of a Joint Borrower Sole Proprietor (JBSP) mortgage
Helps first-time buyers get on the property ladder sooner. A route to home ownership for those with good credit but lower income, without having to compromise on their dream property or waiting to save up for a larger deposit
Improves borrowing potential. Boost the amount you can borrow by combining the incomes of multiple borrowers
More control. The primary buyer (or buyers - though rare, it is possible for more than one person to be listed as the sole proprietors) owns the property outright and has full control over things like renovating, or selling up in the future
Avoids additional stamp duty tax. Those wishing to support their loved ones, but who already own a property, will avoid the higher rate of stamp duty that applies to additional properties. Plus, any eligible first-time buyer stamp duty relief won’t be affected either
Flexibility when you’re ready to take on the mortgage independently. When the sole proprietor’s income grows, supporting borrowers can often be removed from the mortgage relatively easily once your initial deal period ends
Joint mortgage liability. All borrowers are equally and fully responsible for the mortgage payments. So, if payments are missed, everyone’s credit scores will be affected
Limited control for non-owners. Supporting borrowers have no legal claim to the property or its equity growth. If it increases in value, they aren’t entitled to any of the additional equity. They also don’t have control over decisions about the property, such as whether to renovate or sell later down the line
Impacts future borrowing for all parties. The JBSP mortgage will be factored into future affordability checks, which could affect the supporting borrower’s ability to obtain credit
Conflict can arise. A JBSP mortgage can put extra strain on relationships, particularly if circumstances change (such as one party wishes to exit the arrangement or sell the property)
Additional, independent legal advice is often required. The non-owner may need to obtain separate legal advice to ensure they understand their rights and obligations. This could add additional costs to the process
Lender criteria varies. Finding the right lender for you, whose criteria is a match for your circumstances, can be a challenge. You may wish to consult an expert broker to help you compare your options
Find a JBSP mortgage
Our broker partner Mojo Mortgages can help find the right Joint Borrower Sole Proprietor mortgage for you:
Compare hundreds of mortgage deals
Get a mortgage in principle to find out how much you could borrow
Free expert advice on JBSP mortgages
Difference between a guarantor mortgage and a JBSP mortgage
Both a guarantor mortgage and a Joint Borrower Sole Proprietor mortgage aim to help someone secure a mortgage with financial support but they differ fundamentally.
With a JBSP mortgage, all borrowers’ combined incomes are assessed and you are all jointly responsible for making mortgage repayments even though only one person owns the property. Supporting applicants don’t need to provide any collateral or security, though, so their own home or savings aren’t at risk. In contrast, a guarantor mortgage means the guarantor only becomes responsible for payments if the main borrower doesn’t keep up with them - often by offering their own assets as security.
Difference between a joint mortgage and a Joint Borrower Sole Proprietor mortgage
| Joint mortgage | Joint Borrower Sole Proprietor mortgage | |
|---|---|---|
| Property ownership | All joint applicants are named as legal owners of the property, and any decisions about the property must be made together | Only one borrower is typically named as the legal owner so non-owners do not have a say in decisions about the property (such as renovating or selling) |
| Payment responsibility | All mortgage applicants are jointly responsible for the repayments | All mortgage applicants are jointly responsible for the repayments |
| Income assessments | The combined income of all applicants is assessed for affordability | The combined income of all applicants (both owner and non-owners) is assessed for affordability |
| Stamp duty considerations | All legal owners will incur Stamp Duty if required. The higher rate of Stamp Duty for additional properties usually applies if one owner already owns a second home | Non-owners won’t need to pay Capital Gains Tax or Stamp Duty, including the higher rate for additional properties if they already own their own home |
| Typical applicants | Couples, friends or family looking to co-own a property together | Individuals (usually parents, but could be siblings or even friends) looking for a way to help someone get on the property ladder when they can’t afford it alone |
Questions to ask yourself before getting a JBSP mortgage
As we’ve already said, committing to any kind of joint mortgage is a big financial decision and it’s important to make sure you’ve thought it through carefully.
Does each party understand their legal rights, responsibilities and legal implications?
Some lenders will require each party to take legal advice before making a mortgage offer, as it’s so important that everyone involved understands their rights and responsibilities.
How will we share the mortgage payments?
Your supporter doesn’t have to contribute financially towards your monthly payments, but they might be willing to. Plan exactly how you’ll split the payments before you agree to getting a mortgage together. It’s also a good idea to work out what will happen if one of you doesn’t pay their share.
Have we discussed future scenarios?
Things change, but no one likes surprises. Agree in advance how you’ll handle certain situations, such as what will happen if one of you wants to sell the property or exit the agreement.
Do we have insurance?
Mortgage protection or income protection insurance can give you peace of mind that, if one of you can’t pay their bills, their share of the mortgage repayments will still be covered.
Have we considered other options?
A JBSP mortgage is just one option available to help loved ones get on the property ladder. Things like home ownership schemes, gifted deposits or a guarantor mortgage may also be worth considering. Research your other options or book in a call with a mortgage broker for professional advice.
JBSP FAQs
Which lenders offer JBSP mortgages?
A number of UK lenders*, including high-street banks and building societies, offer JBSP mortgages. This includes:
Barclays
Bank of Ireland
Bath Building Society
Clydesdale Bank
Metro Bank
Newcastle Building Society
NatWest
Principality Building Society
Skipton Building Society
However, each lender has their own specific criteria, and may even have their own name for what is essentially a JBSP mortgage product. That makes it tricky to understand which mortgage provider could be the right match for your circumstances. You might find it helpful to work with a mortgage broker. They have strong knowledge of lender requirements and can help to compare options on your behalf.
*Information correct as of 9th June 2025. This list is illustrative and not exhaustive, and lender offerings can change frequently. Check with your lender or mortgage broker directly for the latest information.
Will a JBSP mortgage affect the stamp duty I need to pay?
It can do. The owner of the property (the sole proprietor) will pay stamp duty based on their individual circumstances. They can even take advantage of any available first-time buyer relief if they qualify for it, even if the supporting borrower already owns another property.
Typically, the joint borrower will pay no stamp duty at all as they don’t own the property. This helps existing homeowners to avoid the higher rate of stamp duty that applies to additional properties.
How do JBSP interest rates work?
JBSP mortgage interest rates are largely similar to other mortgage products on the market. However, as you’ll be teaming up with someone with perhaps a higher income or strong creditworthiness, you may be able to access more competitive rates than you would if you were applying alone.
How many people can take out a Joint Borrower Sole Proprietor mortgage?
It depends, but some lenders allow up to four people to apply for a JBSP mortgage.
Can all borrowers live in the property?
This depends on your lender’s criteria, but some lenders will allow both the sole proprietor and non-owner borrowers to live in the property.
Do all applicants have to share the mortgage payments?
Not necessarily. You may decide that the sole proprietor is financially capable of handling the monthly payments on their own (after all, some mortgage payments can be cheaper than paying rent). In this case, the non-owner borrower would simply provide back-up should the owner not be able to keep up with their payments for whatever reason. Alternatively, you may decide to share the mortgage payments depending on what’s affordable for each party.
Will the age of applicants impact eligibility?
Possibly, depending on the mortgage term you’re looking for. Most lenders expect the mortgage to be repaid by the time the oldest applicant is 75 years old (in some cases, 80). So you’ll need to take that into account when deciding on your mortgage term.
While it could be possible to get a shorter mortgage term, this may result in much larger monthly repayments.
How much deposit will I need for a JBSP?
There’s no set amount, but you will need to put down a deposit when you apply for a Joint Borrower Sole Proprietor mortgage. Some lenders ask for a minimum of 5%, while others may require you to put down more than that. You may be able to access more competitive rates by putting down a bigger deposit.
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YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
The FCA does not regulate mortgages on commercial or investment buy-to-let properties.
Uswitch makes introductions to Mojo Mortgages to provide mortgage solutions.
Uswitch and Mojo Mortgages are part of the same group of companies. Uswitch Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 312850. You can check this on the Financial Services Register by visiting the FCA website.
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Mojo’s registered office is The Cooperage, 5 Copper Row, London, SE1 2LH. To contact Mojo by phone, please call 0333 123 0012.