Joint borrower sole proprieter

Joint Borrower Sole Proprietor Right to Buy mortgages

A Joint Borrower Sole Proprietor (JBSP) Right to Buy mortgage is a specialist solution for tenants who are eligible to purchase their council or housing association home under the Right to Buy scheme but need additional income to meet affordability requirements. This structure allows a close family member, such as a parent, adult child, or sibling, to be added to the mortgage as a joint borrower without being named on the property’s legal title.

Under a JBSP Right to Buy mortgage, the property remains solely in the name of the eligible tenant, preserving their Right to Buy entitlement and ensuring the statutory discount is applied correctly. Because the additional borrower is not added to the deeds, this structure avoids complications around ownership, does not dilute the Right to Buy discount, and can help prevent additional stamp duty implications that may arise with joint ownership.

JBSP Right to Buy mortgages are particularly valuable for tenants on lower incomes, those receiving benefits, or applicants whose sole income would not be sufficient to secure the required loan amount. Lenders offering Right to Buy JBSP mortgages in the UK assess affordability using the combined income of all borrowers, which may include employed income, self-employed earnings, pension income, and, in some cases, benefits income from the main tenant.

This type of mortgage can also be suitable for first-time buyers purchasing through Right to Buy who are unable to qualify on their own but have family support available. By combining incomes while keeping ownership with the tenant, a Joint Borrower Sole Proprietor Right to Buy mortgage provides a practical and compliant route into homeownership. With specialist guidance, the application can be structured to align with lender criteria, Right to Buy scheme rules, and FCA-regulated affordability standards, ensuring a smooth progression from eligibility through to completion.