Chorley Building Society is excited to announce it has entered into the Joint Borrower Sole Proprietor (JBSP) market.

We understand  that for various reasons, applicants may need to look to a family member to help with affordability, in order to obtain a mortgage. Likely to appeal to customers with an “income gap” who initially cannot afford the mortgage on their own.

JBSP allows two or more borrowers to combine their borrowing capacity to maximise mortgage lending, but with only the main applicants listed on the mortgage deed.

Parents or family members can now rest assured that they can help their loved ones without the worry of additional financial commitments, as there is no requirement for them to live in the property or to be placed on the property deeds.

JBSP gives parents or whoever is supporting the mortgage initially an easy exit strategy when the main applicant can afford the loan in their own right.

This criteria has been extended across our current product range, in conjunction with our standard criteria, allowing you to match the perfect product to your applicants’ circumstances.

Contact your BDM team or see the Chorley Building Society website for more details: