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Loughborough BS brings out high LTV JBSP product

  • 13/01/2022
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Loughborough BS brings out high LTV JBSP product
Loughborough Building Society has added a 95 per cent loan to value joint borrower sole proprietor (JBSP) mortgage to its range.


It is a two-year discounted rate priced at 3.1 per cent and comes with a £499 arrangement fee, and it can be used on residential properties in England and Wales.

The range currently includes five basic JBSP products and further two which are Buy for University products.

Existing offerings include two variable rate products, such as a two-year discount deal at 90 per cent LTV priced at 2.75 per cent, and a two-year discount rate product at 100 per cent deposit guarantee priced at 3.25 per cent.

It also has a three-year fixed rate product at 100 per cent deposit guarantee priced at 3.15 per cent.

The range allows older family members to help younger relatives get on the property ladder and allows up to four people on the mortgage application to help a borrower secure a home.

Affordability is assessed on account income and commitments of all named parties, and terms of up to 40 years are available.

All parties are responsible for mortgage payments and there is no requirement for the proprietor to take on the mortgage alone until family members are ready and able to make the switch.

Ashley Pearson (pictured), national business development manager at the mutual, said it had launched an 85 per cent LTV option in November and had been pleased with the response.

He said: “Introducing a product up to 95 per cent LTV for standard JBSP means we’ll be able to help more people realise their home ownership ambitions. It also sits nicely alongside our 90 per cent JBSP and our 100 per cent deposit guarantee JBSP offerings.”

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