We specialise in boosting buyer's budgets
An Income Boost mortgage, also known as Joint Borrower Sole Proprietor (JBSP) mortgage, is a way of adding some or all of a family member or friend's income to a mortgage to increase the buyer's max borrowing.
This service involves two separate mortgages. The first is a mortgage taken out by your family member or friend (the booster) on their property. The proceeds are then gifted to the buyer to put towards their house deposit. The second is a mortgage needed for the buyers home.
A private equity loan boosts the buyer’s budget by topping up their deposit with a second charge mortgage secured against the home. An equity loan acts in a very similar way to the Government’s Help to Buy scheme. The equity loan provider provides additional capital to the buyer, so they can increase their down payment on the property.
The government scheme for first time buyers ended on the 31st October 2022. Luckily, Tembo is on hand to help. Make a plan with us, and we'll generate a personalised recommendation showing monthly repayments and live interest rates for each of our schemes. Want to talk it through further? Just book in a chat with one of our award winning team to learn more.