01/06/2026
Struggling to stretch your income to buy a home? 🏠🔑
In today’s market, property prices mean your income doesn't always match the borrowing amount you need.
An Affordability Booster Mortgage (officially known as a Joint Borrower Sole Proprietor mortgage) is one option available to help bridge that financial gap.
How it works:
Combined Income: A close relative links their earnings to your mortgage application, which can increase the overall amount you are able to borrow.
Sole Ownership: They act as a joint borrower and share responsibility for the mortgage payments, but they are not named on the property deeds. You remain the sole owner of the home.
Tax Efficiency: Because your family member is not added to the property deeds, it avoids triggering expensive second-home stamp duty taxes for them, while preserving any tax relief or buyer status you hold.
Weighing it up:
While this structure helps some buyers secure a property, it is not suitable for everyone. There are significant financial and legal pros and cons to consider for both you and your family member before making a decision.
Every financial situation is different and each provider has their own lending criteria.
Contact me today for free, independent mortgage advice to discuss your options and see if this setup aligns with your goals. 🤝👇
*Your home may be repossessed if you do not keep up repayments on your mortgage.*
