Case Study: an open minded approach to JBSP
In this Joint Borrower Sole Proprietor case study we were able to help a father support his daughter with our flexible approach:
- Property: a converted flat in a block of four storeys
- £460k loan with a split repayment term
- Father pays £280k over 18 years up to age 85
- Daughter, a trainee solicitor, pays £180k over 35 years
With a split repayment term and accepting repayments in retirement from the father, we could offer a common sense solution to allow the daughter access the housing ladder where the property price may be ordinarily out of reach. You can read the case study in full on our website.
Joint Borrower Sole Proprietor lending is available on our standard range of residential mortgages up to 95% LTV. The owner occupier needs to be on a progressive career path and be able to afford the mortgage outright in the medium term. The non-owner occupier must seek independent legal advice and we will assess the affordability of their existing mortgage.
For more information about our products and services, including our affordability calculator and applying through our online portal, visit our website at mansfieldbs.co.uk/intermediaries.
