JBSP mortgages let parents (or other family) join the mortgage to boost borrowing capacity, while only the buyer is named on the property deeds - avoiding the 3% second-home stamp duty surcharge the supporting borrowers would otherwise face. We structure JBSP applications with lenders that offer them.
How JBSP works
All borrowers are named on the mortgage and jointly liable, but only the occupying buyer is named on the title. This boosts the income assessed for borrowing while keeping the property as the buyer's only home for SDLT purposes.
- All borrowers on the mortgage, only the buyer on the deeds
- Boosts borrowing capacity with family income
- Avoids the 3% second-home SDLT surcharge
When JBSP fits
JBSP suits first-time buyers whose income alone won't stretch to the property they need, with family willing to support on the mortgage without owning the property. We assess whether it's the right structure vs a standard joint mortgage or a gifted deposit.
- Buyer's income alone won't stretch far enough
- Family willing to be jointly liable on the mortgage
- Compared against gifted deposit and joint mortgages
