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Author: Carl Shave-Director
Updated on January 30th, 2024

What is a Joint Borrower, Sole Proprietor mortgage?

Joint Borrower, Sole Proprietor, is where not all persons listed on the mortgage are the property’s legal owners. This is also referred to as a JBSP mortgage. This enables the use of other parties’ salaries when determining affordability. This can increase the amount of mortgage allowed.

This arrangement functions similarly to the more common guarantor mortgage. However, the parties not identified as the property owner are accountable for the whole debt instead of only guaranteeing the monthly payment. This is known as joint and multiple responsibility.

Affordability is not only crucial when determining your eligibility for a mortgage, but also when discovering which mortgages are available to you. If the outcome of your affordability check believes you to be a risk, you are limited in what you can access.

In these situations, the addition of a guarantor is usually suggested. But this is not always a favourable solution to lenders. Nonetheless, Joint Borrower, Sole Proprietor mortgages are a viable option that may be less well-known than the guarantor mortgage.

How do Joint Borrower, Sole Proprietor mortgages work?

When applying for a JBSP mortgage, the income of up to four other people can be considered. The other individuals whose incomes are considered, are commonly parents or close relatives. This can allow you to borrow more compared to applying as an individual.

For example, if your yearly income is £20,000 and a lender may be willing to lend you between 4.5 and 5 times your income, the most you can borrow is £100,000 and the minimum being £90,000.

One of your parents earns £30,000 a year, so you could apply with them. Therefore, if you combine your income, you have a total of £50,000. Meaning you could potentially borrow in excess of £200,000. Giving you an additional £100,000 when compared to what you could have initially borrowed.

What’s the eligibility for a Joint Borrower, Sole Proprietor?

The most frequent requirement is for a parent or guardian to provide financial assistance. However, for many lenders, this is optional.

Many will welcome any family member or friend with no constraints on the nature of the relationship. Any parties that are listed on the application must be aware that this commitment may have an influence on any future borrowing they may require. And that they will also be expected to seek independent legal counsel in all situations.

As mentioned previously, there can be more than two applications, although normally, there will be no more than four.

Joint Borrower Sole Proprietor mortgage lenders

As JBSP mortgages become more popular, there are more JBSP mortgage lenders entering the market. To be eligible, you must meet specific criteria given as requirements by lenders.

Each lender has its own criteria, so even if you meet one lender’s criteria, you may not when it comes to others. We recommend you discuss your options with a mortgage broker. They are best placed to provide advice based on your circumstances and can guide you through the process.

Fill out our quick and easy mortgage affordability calculator below. We only require a few details to see how much you may be able to borrow.


What are the requirements for a Joint Borrower, Sole Proprietor mortgage?

Although lenders’ requirements for a Joint Borrower, Sole Proprietor mortgage can and do vary, we’ve outlined a few of the most important factors:

  • The “primary” borrower(s) must occupy the residence.
  • The maximum term will be determined by the age of the applicant with the highest income.
  • Available on any repayment option, i.e., repayment or interest-only, subject to an approved repayment plan.
  • All non-owners must obtain independent legal counsel.
  • Incompatible with some other loan programmes, such as joint ownership.
  • Can be used to aid with the level of borrowing, but not to acquire a mortgage with a poor credit score.


  • What is the Joint Borrower, Sole Proprietor mortgage age limit?
  • Which banks offer Joint Borrower, Sole Proprietor mortgages?
  • Can I get a Joint Borrower, Sole Proprietor with a bad or no credit score?
  • What to do if I want to end a Joint Borrower, Sole Proprietor mortgage?

There is no universal age limit set by lenders. However, like with a standard mortgage, the oldest applicant usually will need to be no older than 70. Although, some lenders will extend this up to and over 80.

JBSP mortgages aren’t offered by all lenders and some lenders may be more likely to offer you a deal. Some of the common banks and lenders that offer JBSP mortgages are:

  • Barclays Bank
  • Skipton Building Society
  • Bath Building Society
  • Metro Bank
  • Newcastle Building Society
  • Furness Building Society

It may be possible to get a JBSP mortgage with bad credit. However, as with any type of mortgage with bad credit, the process may be a little more difficult.

You will need to use a specialist lender that isn’t available on the high street. Therefore, they can usually only be accessed through a broker or intermediary.

If you are put into this situation, there are a few options available to you. If a non-legal owner wants their name removed for whatever reason, you will most likely need a deed of release.

This would only be granted if the homeowner can continue to make mortgage payments without any financial support from these parents or relatives.

A more common thing for people to do is to remortgage after few years. If you can now afford monthly mortgage payments and you no longer require the supporter’s help, then you can look for a different type of agreement that will give you full ownership and responsibility.

The last option is to sell the property and pay off the mortgage in full, ending the agreement.

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