Buckinghamshire Building Society Adds JBSP Facility to Prime Product Range

Buckinghamshire Building Society has made a significant update to its prime product range by adding the joint borrower sole proprietor (JBSP) facility and removing the dedicated offering. This move will allow the mutual to offer the JBSP option for the majority of its mortgage products up to 90% loan to value (LTV) for both purchase and remortgage.

The JBSP facility enables borrowers to use their parents’ income to help with affordability while still maintaining legal ownership of the property. This option will now be available to a broader set of borrowers through more product options and will also allow applicants to benefit from desktop valuations up to 75% LTV.

Claire Askham, head of mortgage sales at Buckinghamshire Building Society, emphasized the importance of adapting to changing borrowing demands and providing flexible and responsible solutions for potential and existing borrowers. She highlighted the growing demand from first-time buyers and existing homeowners whose circumstances may have changed due to factors like relationship breakdowns or bereavement.

By extending the JBSP facility and making it more accessible, the society aims to meet a wider range of client needs and provide a win-win situation for everyone involved. Intermediary partners are encouraged to seize this opportunity to help their clients navigate changing circumstances and secure the right type of borrowing solution.

Overall, this update to the prime product range at Buckinghamshire Building Society reflects a commitment to meeting the evolving needs of borrowers and providing tailored solutions to support them in achieving their homeownership goals.