First Home With a Helping Hand: Joint Borrower, Sole Proprietor
Can't borrow enough on your own salary? Your parents can help you buy without going on the deeds.
How we got it done.
What they wanted
To buy a family home that his income alone couldn't stretch to.
Why it was complex
Joint Borrower Sole Proprietor (JBSP) has very specific criteria, especially with older family members whose terms run into retirement. Few lenders would do it at this loan size.
How we structured it
The family members were added to the mortgage for affordability but not to the deeds. The deal is a 2-year fix, with the plan to remove them at the end of it.
The outcome
The keys to his first home, with a clear route to owning it on his own.
“JBSP is one of the most underused tools for first-time buyers, but it has to be set up right.”Josh Halsey, Founder and Director
Your home may be repossessed if you do not keep up repayments on your mortgage.
Everyone on the mortgage is responsible for the full debt. Family members should take independent legal advice.
This is a real, anonymised case shared with the client's permission. Every case is different, and outcomes depend on your own circumstances. We don't quote rates or guarantee outcomes.
Chatsworth Mortgage Group Ltd is an Appointed Representative of Cornerstone Finance Group Ltd, which is authorised and regulated by the Financial Conduct Authority.
In a similar situation?
Book a free, no-obligation call with Josh and talk it through.
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