Joint Borrowers, Sole Proprietor (JBSP) mortgages could really be a game changer for a lot of first-time buyers, especially those struggling with affordability.
The secret being how they allow multiple applicants to pool their incomes, making it easier to get approved for a mortgage.
A feature—where you can have non-family members involved— may be a huge help for people in shared living situations or who have close friends they want to work with to buy a home.
The “Bank of Mum and Dad” isn’t always enough to bridge the affordability gap. The JBSP structure seems to offer more flexibility and might make it more attainable for many people who are caught between saving for a deposit and handling ongoing monthly payments.
The biggest barrier to these mortgages becoming more mainstream, is probably a matter of awareness, or perceived complexity.
If you are interested in learning more about the JBSP mortgage, feel free to have an initial chat with us by calling 01202 875900 Option 1. The meeting would be free to you and without obligation.
