Joint Borrower Sole Proprietor (JBSP) Mortgages
Helping families buy homes together, without everyone going on the deeds
Hi, I’m Liam from Drummonds Finance Group, and if you’ve been looking for ways to help a loved one buy a home, you’ve probably come across something called a Joint Borrower Sole Proprietor mortgage, or JBSP for short.
It might sound technical, but it’s actually one of the most practical, family-friendly mortgage options available, and one we deal with regularly here at Drummonds.
Whether you’re a parent helping your child get onto the ladder, a partner supporting your other half, or an adult child helping a parent, a JBSP mortgage can make home ownership achievable when affordability is tight.
Let’s break it down simply so you can see how it all works.
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What is a Joint Borrower Sole Proprietor mortgage
A JBSP mortgage lets more than one person go on the mortgage without all of them being named on the property title.
So, for example, a parent can help boost affordability by being part of the mortgage application, but the child is the only one who legally owns the property.
That means:
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The extra borrower helps with income and affordability
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They share responsibility for the payments
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But they don’t own the property or pay additional stamp duty
It’s a clever way for families to buy together without triggering tax complications or ownership issues later.
How it works in real life
Let’s say your son or daughter wants to buy their first home in Oxford, but their income alone doesn’t quite cover the lender’s affordability rules. You can join the application as a supporting borrower, allowing your income to be included in the assessment.
The mortgage is then in both names, but the property is registered only in your child’s name. They’re the sole owner, while you help secure a better deal.
It’s very similar to a joint mortgage, but the key difference is ownership, you’re helping, not buying.
Who JBSP mortgages are designed for
These mortgages were created mainly for families who want to help each other. Most commonly, we see:
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Parents helping children buy their first home
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Siblings or relatives combining incomes
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Partners where one earns more than the other
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Adult children helping elderly parents remortgage or stay in their home
They’re also useful when one applicant’s credit score or income history isn’t quite strong enough yet, allowing a family member to bridge that gap.
The big advantages of a JBSP mortgage
1. No extra stamp duty
Because the supporting borrower doesn’t go on the deeds, they don’t pay the second-home stamp duty surcharge. That’s a huge saving compared to buying jointly.
2. Higher borrowing power
Combining incomes means you can often borrow more and buy sooner, instead of waiting for revenue to rise or saving for years.
3. Flexibility for the future
Once affordability improves, you can remove the supporting borrower later on, and the homeowner can carry on solo.
4. Family support without ownership risk
Parents and relatives can help without being tied to the property long term.
5. Ideal for first-time buyers
In expensive areas like Oxfordshire and Bicester, JBSP mortgages are often the key to helping first-time buyers finally get on the ladder.
Things to think about
Every mortgage has fine print, and JBSPs are no different. Here are a few things to keep in mind:
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Everyone on the mortgage is jointly responsible for payments, even if they don’t live in the property.
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The supporting borrower’s ability to obtain future credit or mortgages might be affected, as they’re linked to this loan.
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Some lenders have age limits or term restrictions for the supporting borrower (for example, the mortgage must finish before they retire)
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It’s always worth having a simple legal agreement between family members about future plans, just for peace of mind.
That’s where good advice matters; we’ll make sure you know exactly how it works and what to expect before applying.
Example scenarios
Parents helping children – Mum and Dad help their daughter buy a flat in Oxford. She’s on the deeds, they’re on the mortgage, and once her income grows, they can come off later.
Couples where one earns more – One partner earns significantly more, but the other can’t be on the mortgage for credit reasons. A JBSP mortgage allows them both to contribute without shared ownership complications.
Adult children helping parents – A son helps his retired parent remortgage their home to release funds, without being added as an owner.
Each case is slightly different, and that’s exactly why a tailored approach works best.
JBSP vs other ways to help
You might have heard of guarantor mortgages or gifted deposit arrangements. While those are also helpful, JBSP tends to be more flexible because:
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All borrowers share responsibility, not just a guarantee
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There’s no legal interest in the property for the helper
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It’s suitable for both purchases and remortgages
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If you’re not sure which route fits best, we’ll happily compare them side by side.
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