A joint borrower sole proprietor mortgage offers an opportunity for low-income borrowers to find their place on the property ladder. By incorporating the income of up to four members of immediate family, your client can have their income considered without being named on the property deeds.

At Darlington Intermediaries, we understand the importance of property ownership for all, and will consider the income of four applicants at 100%, and with up to 4.5x LTI, with tno upper age limit for the oldest applicant.

Joint borrower sole proprietor mortgages are not uncommon at Darlington Intermediaries. One scenario saw two applicants, both in the early years of their respective careers, needing to relocate due to one of them receiving a promotion. To meet affordability, the parents of one applicant requested to be added to the mortgage, but didn’t want any ownership of the property itself.

The solution was simple with our joint borrower sole proprietor offering. Bringing Mum and Dad on to the mortgage ensured affordability was met, and a forty-year term helped the applicants keep their monthly repayment costs manageable.

Chris Blewitt, Head of Intermediary Distribution said; “Joint Borrower Sole Proprietor is one of our most utilised lending areas. The proposition itself is excellent but when you add in the other elements such as no upper age limits on repayment mortgages, four incomes at 4.5x LTI and a forty-year term being available, you can really see the value and support we are able to offer in this space.”

You can find our full criteria on our website.

If you have a similar case to place, reach out to the team on 01325 741004 or our website.