Getting a mortgage just got easier.
Did you know, it is possible to buy a house with a joint borrower sole proprietor mortgage where you can add a borrower to a mortgage even if they are not named on the title deeds and you do not want to add them to the title deeds. Don’t get me wrong, you won’t be flooded with offers from Banks to help you with this, a lot of the Banks are not interested but we do have a couple who don’t mind more borrowers than owners.
Not sure how a Joint borrower sole proprietor mortgage might be useful to you?
The most obvious scenario where a joint borrower sole proprietor mortgage might be useful to you is to help you to assist a close family relative to buy their first home or move house, you can be named on the mortgage so that the loan amount your family member can obtain could be increased. This allows them to buy a house at a higher price than they might be able to afford on just theor own income.
- Up to 4 applicants on the mortgage, with a minimum of one on the property deeds.
- Additional applicant(s) must be close family relatives.
- Gifted deposit can be considered from a close family relative.
- Term can be considered up to max age 80.
- Independent Legal Advice is mandatory.
- Available on both Residential and Buy to Let mortgages.
For more information it’s best to speak with one of our adviser, either call us on 01233 512012 or book a call back.
Make sure you can afford the mortgage payments or you could lose your home if you fail to keep up repayments especially if the joint borrower is not contributing towards the monthly payments.