Buying your first home is an exciting milestone, but getting a mortgage can sometimes feel like a challenge. If you need a little help to boost your borrowing capacity, a Joint Borrower Sole Proprietor (JBSP) mortgage could be the perfect solution. Let's break down how it works in simple terms.
Joint Borrower / Sole Proprietor
What is a Joint Borrower Sole Proprietor mortgage?
A Joint Borrower Sole Proprietor mortgage lets you apply with one or more additional borrowers (often a parent or close family member) to support affordability, while the property is owned by the proprietor(s). In simple terms: you own the home, but the lender can use more than one income to support the borrowing (lender and structure dependent).
How does a JBSP mortgage work?
Ownership vs borrowing
- The owner(s) / proprietor(s) are the legal owner(s) on the title deeds.
- The supporting borrower(s) are added to help affordability.
- All borrowers are typically jointly responsible for the mortgage payments.
Why people use it
It’s often used where a buyer can comfortably afford the monthly payment, but the income assessment doesn’t quite stretch far enough on paper. JBSP can help bridge that gap — when the structure fits.
Why consider a JBSP mortgage?
Can improve affordability
Additional borrower income can help support the borrowing where needed (lender dependent).
Keeps ownership simple
The property remains in the sole proprietor’s name, even when others support the mortgage.
Clear future plan
Many clients aim to remove the supporting borrower later once affordability supports it.
Flexible in the right scenario
Criteria varies by lender — we’ll match your structure to the right policy rather than forcing it.
JBSP FAQs
The rules vary by lender, but these are some of the most common questions we’re asked. We’ll confirm the right structure for your exact situation before you apply.
Who owns the property on a JBSP mortgage?
Although it’s called “sole”, lenders may allow different structures. Here are common examples:
| Ownership (proprietor(s) on deeds) | Borrowers on the mortgage | How it looks in practice |
|---|---|---|
| 1 owner | 3 borrowers | 1 proprietor (also a borrower) + 2 supporting borrowers |
| 2 owners | 2 borrowers | 2 proprietors (both borrowers) — no supporting borrower |
| 2 owners | 3 borrowers | 2 proprietors (both borrowers) + 1 supporting borrower |
| 2 owners | 1 borrower | Not typical, because all owners are usually borrowers (lender dependent) |
Can more than one supporting borrower be used?
Are the supporting borrower(s) responsible for the mortgage?
Can the supporting borrower be removed later?
Does a JBSP mortgage mean higher rates?
Independent Legal Advice (ILA)
With a Joint Borrower Sole Proprietor mortgage, the supporting borrower is named on the mortgage and responsible for the loan, but does not have legal ownership of the property. Because of this difference in position, lenders will usually require the supporting borrower to take Independent Legal Advice (ILA).
Speak to a Mortgage Specialist
Whether you want to talk through your options or sense-check a specific scenario, we’re happy to help. Choose the contact method that suits you best.