Flex Together
Boost your client’s affordability with enhanced JBSP
Flex Together is our enhanced Joint Borrower Sole Proprietor (JBSP) mortgage.
It allows family and friends to be included on the mortgage application, boosting the amount that can be borrowed. All parties share responsibility for the mortgage, but only the main purchaser is on the property deeds.*
*For applications of this nature, the applicant who will not be party to the mortgage deed must receive Independent Legal Advice prior to the completion of the mortgage.
Non-family members/other joint applicants
Our Flex Together criteria is very flexible. We allow up to four borrowers on a joint application, and we can accept borrowers who are not family members. Additionally, we calculate affordability based on an income multiple of x4.49 for the two highest earners and x1 for any additional applicants*, all parties share responsibility for the mortgage, but only the main purchaser is on the property deeds.
*For consideration of higher income multiples for additional applicants please refer to one of our team who will be happy to help.
Adding Tailored Term
For even greater flexibility, we can add a Tailored Term element to the mortgage, allowing different applicants to share the mortgage over different timescales.
This is a major advantage where there is a significant age gap between applicants, because unlike many other lenders we don’t restrict all borrowers to a term that’s based on the oldest applicant. Instead, we calculate what the youngest applicant can afford over the maximum term, and tailor an older applicant’s contribution over a shorter term.
Maximum LTV
With Flex Together, family and friends are able to boost the main applicant’s affordability, helping them reach the amount needed for both first time buyers and those buying their dream home. Where joint applicants are close family members (parents, spouse or siblings), the maximum Loan to Value (LTV) is 95%*. For a mortgage that includes other joint applicants it is 80%.
*When products are available.
| Relationship to main applicant | Maximum LTV |
|---|---|
| Parent | 95% |
| Spouse | 95% |
| Sister | 95% |
| Brother | 95% |
| Non-family members/other joint applicants | 80% (Must be referred to the MRC and be residential home owners.) |
Get in touch
To speak to a member of our team, call 01455 894 084, or click contact us to send us an email. You can also connect with one of our dedicated Business Development Managers or chat to us via LiveChat.
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