Joint Borrower Sole Proprietor (JBSP)

A set of mortgage products for cases with multiple applicants on the mortgage, but fewer on the property deeds.

JBSP mortgages are for cases where multiple applicants (up to 4) are named on a mortgage (normally for affordability reasons) but not all of them (maximum 2) are on the property title.

This may suit families where a parent, relative or child wish to support family members for the mortgage application, but would not wish to be named on the property title, for example, due to tax liability commonly associated with non-main-residence properties.

These mortgages are often commonly referred to as JBSP.

Key criteria

  • Up to 4 incomes used and up to 2 names on property title
  • All applicants on mortgage deed
  • Maximum of 2 households (4 applicants) 1 or 2 occupiers of the security and 1 or 2 non-occupiers from one household
  • Wide range of family permitted
  • Lending into retirement permitted for occupiers and non-occupiers
  • F1 and F2 Credit tiers
  • Purchase and remortgage
  • C&I, I/O or part&part acceptable
  • Up to 4.49 x joint income
  • 100% gifted deposit acceptable

Foundation Home Loans recommends that all parties to this type of mortgage take independent legal advice as well as independent advice about their tax liabilities.

Featured JBSP product

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