Joint Borrower Sole Proprietor Mortgage
Helping Family Members Secure a Mortgage—Without Going on the Deeds
Joint Borrower Sole Proprietor (JBSP) mortgages are a popular way for family members—often parents—to help relatives, such as children, secure a mortgage by acting as a supporting borrower. This can help satisfy affordability requirements and access better mortgage rates, without the supporting borrower becoming a co-owner of the property.
For others, a JBSP mortgage may also be used as a way to save thousands in Stamp Duty Land Tax (SDLT) by avoiding the higher rate applied to additional properties.
Why Independent Legal Advice (ILA) Is Required
Even when you’re fully aware of what’s involved in acting as a supporting borrower, lenders consider they have a duty of care to ensure you understand the risks and obligations. To satisfy this, they require you to obtain Independent Legal Advice (ILA) from a separate solicitor—providing them with confirmation that you’ve received professional advice before proceeding.
At ILA-Connect, we specialise in making this process as quick, simple, and affordable as possible — delivering your ILA through a short Zoom video call so you can complete everything conveniently from home or work.
We work with JBSP mortgages from:
- Barclays Bank – (If your mortgage is with Barclays, please click here to book on our dedicated Barclays page to follow the correct process.)
- HSBC Bank
- Metro Bank
- Virgin Money
- Generation Home Loans (Gen-H)
- Family Building Society
- Hinkley & Rugby Building Society
- Darlington Building Society
- Vida Home Loans
- Accord Mortgages
- Cambridge Building Society
- Foundation Home Loans
- …and many more across the UK.
We understand that obtaining ILA can sometimes feel like an extra step in an already complex process. That’s why we’ve designed our service to be fast, straightforward, and cost-effective, so you can meet lender requirements without any hassle.
Book your appointment today and let us take care of the rest!
£150 incl. VAT
15min Zoom Meeting
£270 incl. VAT – Save 10%
2 x 15min Zoom Meeting
£382.50 incl. VAT – Save 15%
3 x 15min Zoom Meeting
£480 incl. VAT – Save 20%
4 x 15min Zoom Meeting
Special Delivery Postage Fee:
If required for sending time-critical wet-ink signed documents, a Special Delivery postage fee of £15.00 plus VAT (£18.00 total) will apply.
Before You Book:
- No Obligation: Making a booking does not require you to proceed or make any payment.
- Address Any Queries: After booking, the solicitor will send you an introductory email. You can raise any questions or concerns, such as fees or specific details about your matter, before the appointment. You can also reschedule or cancel the appointment if you’re not fully satisfied.
Why does Independent Legal Advice need to be sought?
With a Joint Borrower Sole Proprietor mortgage, the individual listed on the mortgage who will have no legal title to the property take a great risk in becoming liable for the repayment of the mortgage. From the lender’s perspective, it must ensure any party who does not benefit directly from the loan understands the full extent of their liability before the mortgage commences.
As there is such high risk for the person signing the mortgage, such as their own personal solvency, yet without having the benefit of co-owning the property, the mortgage lender considers it must take proactive measures to prevent the joint borrower in question claiming in the future they were not fully aware of the terms and financial implications of the mortgage.
That’s where ILA comes in. In order to adhere to their duty of care, lenders want to ensure the relevant parties to a JBSP mortgage have full awareness of their personal liability, especially as they are not benefiting directly from the loan. By obtaining ILA, the mortgage lender gains protection from such claims, while the borrower benefits from the advice of a qualified solicitor before entering into an agreement.
How can I obtain Independent Legal Advice?
If your lender has asked for Independent Legal Advice to be obtained for your Joint Borrower Sole Proprietor mortgage, then we’re here to help, as we’ve made it easy for you to get Independent Legal Advice no matter what your particular situation is.
Simply Book Now or get in touch with us using the information below.