Case Study: First-Time Buyer Support

4th July 2022

A recent case where we were able to support a First-Time Buyer using JBSP, gifted deposit and future income considerations.

Recent case where we were able to support a first-time buyer using: 

- JBSP (Joint Borrower Sole Proprietor) Mum and Dad supporting Daughter
- The daughter is a trainee solicitor, on a five-year increasing pay scale, aged 25 and has been with her employer for 10 months after leaving university
- Mum & Dad gifted £208K for deposit

Across England and Wales, an increasing number of buyers need the support of a family member to get a mortgage. We understand that relying on Mum and Dad isn’t always an ideal ongoing situation.

Mum and Dad were looking to support their daughter through a Joint Borrower Sole Proprietor mortgage. Mum and Dad, aged 58, run an accountancy firm, earning within our acceptable income range.

The daughter, aged 25, is a trainee solicitor on a five-year increasing pay scale. Our criteria for JBSP allow us to consider projected future earnings to calculate affordability for the sole proprietor. Meaning, that once the daughter reaches a sufficient pay scale, she can take over the mortgage herself.

The property was a flat with a share of the freehold and a 993-year lease remaining. The purchase price was £520,000, and Mum and Dad were gifting a deposit of £208,000 towards the purchase. The share of freehold and gifted deposit were non-standard criteria. However, after taking a full view of the case, we were happy to make an offer and were able to complete it shortly after.

Our personal, human approach to lending means we can make common-sense decisions on your cases.

If you’d like to talk to us and see what we can do for you and your client, please feel free to call our intermediaries team on 0161 429 4327.


First-Time Buyers

We're here to support your complex cases with our common-sense approach to lending. By understanding the person behind the application and treating every case on its own merits, our flexible lending policy empowers our underwriters to make sensible decisions.