A Joint Borrower Sole Proprietor (JBSP) mortgage adds some or all of a family member or friend's income to your total household income, to increase the amount a lender will let you borrow. It's suitable for buyers, movers and those looking to remortgage, and works to reduce the growing affordability gap.
Your loved one won't be on the property deeds, so you won't lose any first-time buyer relief, and there's no tax implications for them. Like a guarantor, they will only need to step in if you cannot make the monthly repayments. Should your salary increase over time, you could remove the guarantor from the mortgage when you remortgage.
Get your Joint Borrower Sole Proprietor mortgage underway in 3 simple steps