Consult mortgage broker Deal Direct about joint borrower sole proprietor loans.

Mortgage broker Deal Direct offers expert advice on the various ways first time buyers can gain a foothold on the property ladder.

One such method is via a joint-borrower-sole-proprietor mortgage.

What is this?

This type of mortgage is where up to four people can use what they earn to apply for a residential or buy to let loan, but only one person appears on the deeds.

Parents very often support their child’s application in this way, taking advantage of their higher salaries to help their lower-paid off-spring to meet affordability criteria. Over time, as the sole proprietor is able to afford more of the loan, the other applicants can easily exit the agreement.

Depending on the lender approached for this type of mortgage, the maximum age an applicant can be at the end of the term can be as high as 80. The duration of the term can be decided among the applicants to make it as affordable as possible for everyone involved.

This property financing solution could be appropriate for you or there could be another product that serves you better. Before you make your decision, our advice would be to do your research fully – and we can help you with that.

Deal Direct have 13 years’ experience in the UK mortgage market and, during that time, we’ve assisted thousands of clients in finding and obtaining a mortgage for their dream home. We can help you too.

Chat with us online now or call 0800 048 8828 to speak with an expert advisor.