Glossary · UK

What is Joint Borrower Sole Proprietor?

A mortgage where more than one person is responsible for repayments but only one person is named as the legal owner of the property.

Full Definition

Joint Borrower Sole Proprietor (JBSP) is a mortgage arrangement where two or more people are jointly liable for the loan repayments, but only one of them - the sole proprietor - is registered on the property's title deeds as the legal owner. A common use is a parent helping a child buy: the parent's income boosts borrowing capacity, yet the parent has no ownership stake. Because the helper is not an owner of an additional property, this structure can avoid the higher rate of Stamp Duty Land Tax that applies to second homes, and it keeps the property out of the helper's estate. The supporting borrower is still fully responsible for the debt if the proprietor cannot pay, so it carries real risk and affordability checks apply to everyone named. Specific SDLT bands depend on price and circumstances - check current rates on gov.uk or a stamp duty calculator.