The JBSP range allows up to four applicants’ incomes to be used for affordability, and the non-occupying borrowers are typically close family members such as a parent, child or sibling.
Only the occupying borrowers are property owners, but all borrowers have responsibility for mortgage repayments.
Borrowers over the age of 18 can secure a deal with a minimum property valuation of £125,000.
The mortgage term must not exceed the retirement age or 75 for all borrowers.
Split repayments are available, which allow different borrowers to have separate term lengths with the same mortgage.
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Buyers can also receive a free valuation up to £1,000 on the full range of JBSP products.
The range includes three deals, including a five-year fixed rate at 80% loan to value (LTV) at 4.69%, going up to 5.09% at 90% LTV. The deals have no fee.
There is also a two-year discount product at 80% LTV with a £499 fee priced at 4.69%. This also offers a 25% overpayment facility without incurring an early repayment charge (ERC).
Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society, said: “While house price growth has slowed, affordability remains a significant challenge for many buyers despite wage increases. Deposit requirements are still high, and price-to-income ratios remain well above historic[al] norms, meaning family support is often an essential route to getting on the ladder.
“Our JBSP range is designed for these needs – allowing up to four incomes to be considered without complicating property ownership. It’s a practical solution for first-time buyers, those rebuilding after life changes, or anyone facing affordability constraints.
“With features like split repayment terms, enhanced overpayment options, and free valuations up to £1,000, these products give brokers the tools to help clients in a market that still demands flexibility. We remain committed to supporting complex cases and those under-served by mainstream lenders through individual underwriting and options for purchase or remortgage, including acceptance of gifted deposits.”
