Joint Borrower Sole Proprietor mortgage arranged after client split from partner

Trinity Financial arranged a Joint Borrower Sole Proprietor mortgage for a client who needed to buy out his former partner after their relationship ended.

The client worked as a project specialist and wanted to remain in the property. However, he could not afford the mortgage in his sole name based on his income alone. Without help, he may have had to sell the home or find another way to raise the funds needed to buy out his ex-partner.

After reviewing the client’s circumstances, Trinity Financial recommended a Joint Borrower Sole Proprietor mortgage, often known as a JBSP mortgage. This allowed his mother to support the application by boosting affordability, without needing to be named as an owner of the property.

Why did the client need Trinity Financial’s help?

The client needed options because his income was not high enough to support the required mortgage on his own. A standard sole mortgage application was unlikely to work, so Trinity’s broker explored alternative structures.

A JBSP mortgage was the right solution because it allowed the lender to include the mother’s income in the affordability assessment. This increased the amount the client could borrow and gave him the chance to remain in his home.

The client was not in a rush to complete, but the case needed careful planning because the lender had to be comfortable with both applicants’ income, age and affordability.

Small building society issued mortgage

The lender was selected because it could consider the Joint Borrower Sole Proprietor structure and was prepared to assess the mother’s income as part of the affordability calculation.

The mortgage was arranged on a capital repayment basis with a fixed rate of just below 5.6%.

Why was the mortgage term important?

The mortgage term had to take the mother’s age into account. She was 54 at the time of the application, and Cambridge Building Society allowed the mortgage term to run for 29 years, taking her up to her 83rd birthday.

This longer term was important because it helped reduce the monthly payments and made the mortgage more affordable for the main applicant.

Was the case straightforward?

The case was not entirely straightforward. Trinity Financial had to find a lender whose affordability and criteria would work for the client and his mother.

There was also additional complexity because the mother was a director of two limited companies. The building society requested additional documents to verify her income and to understand the company's position, but the lender ultimately approved the application.

Why can JBSP mortgages help after a separation?

Joint Borrower Sole Proprietor mortgages can be useful when someone needs help with affordability but wants to own the property in their sole name.

They are often used by first-time buyers receiving support from parents, but they can also help after a relationship breakdown, separation or divorce. In this case, the structure allowed the client to buy out his ex-partner and keep the property.

However, JBSP mortgages are not available from every lender, and each lender has different rules on income, age, term, family support and future affordability. This makes broker advice particularly important.

How Trinity Financial helped

Trinity Financial’s broker helped the client:

• Review options after separating from his former partner

• Identify a Joint Borrower Sole Proprietor mortgage as a suitable solution

• Use his mother’s income to boost affordability

• Find a lender willing to support the application

• Arrange a 29-year mortgage term based on the mother’s age

• Secure a Cambridge Building Society fixed rate of just below 5.6%

• Package the mother’s limited company director income for the lender

• Help the client stay in the property and buy out his ex-partner

Speak to Trinity Financial

If you need to buy out a partner, keep your home after a separation, or need family support to increase mortgage affordability, a Joint Borrower Sole Proprietor mortgage may be worth considering.

Trinity Financial’s brokers can review your income, family support options and lender criteria to explain which mortgage solutions may be available.

Call Trinity Financial on 020 7016 0790, book a consultation, or use our appointment calendar.

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage.