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Skipton for Intermediaries has launched into the joint borrower sole proprietor mortgage market.

Skipton has no restrictions around the relationship between the main applicant and the supporting borrower (known as the non-proprietor) and they do not need to be family members.

The product is available up to 95% loan-to-value, and the maximum term will be based on the oldest income providing applicant.

Aaron Strutt, product director at Trinity Financial, says: "Our brokers have access to around 20 lenders offering joint borrower sole proprietor mortgages. Most of the lenders pulled out of the guarantor mortgage market years ago so these products are filling the void.

"These mortgages are also used for tax planning purposes when the joint borrower already owns a property."

How competitively priced are Skipton’s rates?

Skipton provides a wide selection of fixed and tracker rates, and while they are not market-leading, they are still impressively priced.

The building society is one of the few to provide seven-year fixes and currently takes around nine working days to produce a mortgage offer.

Will you need legal advice?

The non-proprietors must have independent legal advice.

Case study

Trinity Financial recently arranged a mortgage for a couple helping their son to get on the property ladder. They struggled to find a lender to provide them with a large enough mortgage on an interest-only basis using all three of their incomes.

To add to the complication, they also required a joint borrower sole proprietor mortgage. Click here for more information.

Call Trinity Financial on 020 7016 0790 to secure a mortgage

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