THE PROPERTY FILTER TAKE
Metro Bank has launched a JBSP (Joint Borrower, Sole Proprietor) mortgage at 95-100% LTV, letting a family member co-borrow without going on the title deeds or providing a deposit.
The angle is income over savings: families where a parent earns enough to pass enhanced affordability checks but lacks liquid cash to gift finally have a viable entry route.
If you have a family member who could pass the joint borrower affordability test, you may wish to speak to a whole-of-market broker to assess whether this product fits your situation.
Metro Bank has launched a JBSP (Joint Borrower, Sole Proprietor) mortgage that lets first-time buyers borrow between 95% and 100% LTV (loan-to-value) with a family member named as co-borrower. No deposit from the supporting family member is required. Their name does not go on the property deeds.
What Metro Bank's JBSP product actually does
The product targets buyers who have immediate family backing - typically a parent - who can step in if a payment is missed or circumstances change. According to What Mortgage, both the borrower and the joint borrower are deemed liable for repayments. The buyer retains full ownership; the joint borrower acts as a financial safety net only.
JBSP mortgages have been on the market for several years across a range of lenders. They let first-time buyers get on the property ladder with family help while keeping the supporter's name off the title deeds - a meaningful distinction for anyone concerned about stamp duty land tax (SDLT) surcharges on second properties or future inheritance planning.
Charles Morley, director of mortgage distribution at Metro Bank, said: "Acting as a Joint Borrower provides a way for immediate family to be that support without watering down the ownership of the property or being asked to provide a deposit."
Buyers can apply through a broker or directly with Metro Bank. Specialist mortgage advice is required before the application proceeds either way, according to What Mortgage.
How affordability checks work for both parties
Metro Bank applies enhanced affordability checks to both the borrower and the joint borrower, according to What Mortgage. That means the supporting family member's income, outgoings, and existing financial commitments are assessed as if they were a primary applicant.
If the joint borrower already carries a mortgage of their own, those repayments will be factored into the assessment. This may reduce the total amount available to borrow, so it is worth modelling the numbers before going into an application. Our BTL lender stress test calculator gives a sense of how income and debt commitments interact under standard affordability frameworks - useful preparation before a formal conversation with a broker.
The dual check is also a protection mechanism. If the joint borrower cannot demonstrate capacity to cover repayments when required, the application does not proceed. That structure reduces the risk of a well-intentioned family arrangement becoming a financial dispute later on.
The opportunity window for income-rich, cash-poor combinations
Here is the angle. The traditional barrier for most first-time buyers is not income - it is the deposit. A 95-100% LTV product that requires no cash contribution from the supporting family member shifts that entirely. A parent on a solid salary who does not have liquid savings available to gift may now qualify as a joint borrower without releasing equity or restructuring their own finances.
Watch this area. High-LTV mortgage products have been growing across the market, and lender criteria in this space will continue to evolve. Understanding mortgage and finance strategies before walking into a broker meeting puts you in a stronger position from the start.
For buyers with longer-term goals, the starting LTV matters beyond day one. A 100% mortgage means equity builds through repayment and price growth alone - slower than starting from a deposit position, but considerably better than not owning at all. Reviewing property investment strategies before committing helps you plan the second step before you have finished the first. A wider set of affordability and purchase guidance is also available at the Property Filter free resources hub.
Key takeaways
- Metro Bank's JBSP mortgage covers 95% to 100% LTV, with no deposit required from the joint borrower, according to What Mortgage - Both the primary borrower and the joint borrower are liable for repayments, but only the buyer appears on the title deeds - Enhanced affordability checks apply to both parties, including any existing mortgage commitments the joint borrower holds - Specialist mortgage advice is required before applying, whether through a broker or directly with Metro Bank - JBSP mortgages have existed for several years; Metro Bank's 100% LTV ceiling is the notable new element
Metro Bank has launched a JBSP (Joint Borrower, Sole Proprietor) mortgage that lets first-time buyers borrow between 95% and 100% LTV (loan-to-value) with a family member named as co-borrower. No deposit from the supporting family member is required. Their name does not go on the property deeds.
What Metro Bank's JBSP product actually does
The product targets buyers who have immediate family backing - typically a parent - who can step in if a payment is missed or circumstances change. According to What Mortgage, both the borrower and the joint borrower are deemed liable for repayments. The buyer retains full ownership; the joint borrower acts as a financial safety net only.
JBSP mortgages have been on the market for several years across a range of lenders. They let first-time buyers get on the property ladder with family help while keeping the supporter's name off the title deeds - a meaningful distinction for anyone concerned about stamp duty land tax (SDLT) surcharges on second properties or future inheritance planning.
Charles Morley, director of mortgage distribution at Metro Bank, said: "Acting as a Joint Borrower provides a way for immediate family to be that support without watering down the ownership of the property or being asked to provide a deposit."
Buyers can apply through a broker or directly with Metro Bank. Specialist mortgage advice is required before the application proceeds either way, according to What Mortgage.
How affordability checks work for both parties
Metro Bank applies enhanced affordability checks to both the borrower and the joint borrower, according to What Mortgage. That means the supporting family member's income, outgoings, and existing financial commitments are assessed as if they were a primary applicant.
If the joint borrower already carries a mortgage of their own, those repayments will be factored into the assessment. This may reduce the total amount available to borrow, so it is worth modelling the numbers before going into an application. Our BTL lender stress test calculator gives a sense of how income and debt commitments interact under standard affordability frameworks - useful preparation before a formal conversation with a broker.
The dual check is also a protection mechanism. If the joint borrower cannot demonstrate capacity to cover repayments when required, the application does not proceed. That structure reduces the risk of a well-intentioned family arrangement becoming a financial dispute later on.
The opportunity window for income-rich, cash-poor combinations
Here is the angle. The traditional barrier for most first-time buyers is not income - it is the deposit. A 95-100% LTV product that requires no cash contribution from the supporting family member shifts that entirely. A parent on a solid salary who does not have liquid savings available to gift may now qualify as a joint borrower without releasing equity or restructuring their own finances.
Watch this area. High-LTV mortgage products have been growing across the market, and lender criteria in this space will continue to evolve. Understanding mortgage and finance strategies before walking into a broker meeting puts you in a stronger position from the start.
For buyers with longer-term goals, the starting LTV matters beyond day one. A 100% mortgage means equity builds through repayment and price growth alone - slower than starting from a deposit position, but considerably better than not owning at all. Reviewing property investment strategies before committing helps you plan the second step before you have finished the first. A wider set of affordability and purchase guidance is also available at the Property Filter free resources hub.
Key takeaways
- Metro Bank's JBSP mortgage covers 95% to 100% LTV, with no deposit required from the joint borrower, according to What Mortgage - Both the primary borrower and the joint borrower are liable for repayments, but only the buyer appears on the title deeds - Enhanced affordability checks apply to both parties, including any existing mortgage commitments the joint borrower holds - Specialist mortgage advice is required before applying, whether through a broker or directly with Metro Bank - JBSP mortgages have existed for several years; Metro Bank's 100% LTV ceiling is the notable new element
Frequently asked questions
Frequently asked questions
What is a JBSP mortgage?
Does the joint borrower need to provide a deposit?
What if the joint borrower already has their own mortgage?
Can the joint borrower be removed from the mortgage later?
