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Exclusive: Skipton to launch JBSP proposition next week

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  • 24/10/2019
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Exclusive: Skipton to launch JBSP proposition next week
Skipton Building Society is launching a joint borrower sole proprietor (JBSP) offering for new and existing customers on 28 October.

It means the mutual will accept up to four applicants on a mortgage, with non-proprietors able to opt to be on the title or not.

There are no restrictions around the relationship between the main and supporting borrowers, nor on the ratio of borrowers to supporting borrowers.

The proposition will be available up to 95 per cent loan-to-value in England, Scotland and Wales.

Alex Beavis (pictured), head of mortgages at Skipton, said that while it was not the most well-known type of mortgage, it was a fantastic way for parents, guardians, friends or family to support would-be first-time buyers.

He added: “Hopefully our launch into this market can raise awareness of this growing product area and demonstrate our continued commitment to finding real life lending solutions for brokers and their clients.”

Jane Benjamin, director of mortgages at Sesame and PMS, said the move “demonstrates a commitment to support the market as a whole, from new borrowers through to the mortgage brokers who represent them”.

 

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