Harpenden launches new JBSP mortgage
28 May 2021
Harpenden Building Society has launched a new range of Joint Borrower Sole Proprietor (JBSP) mortgages with 10 product variations.
With working situations, personal finances and family life changing significantly in recent times, especially with the impact of Covid-19, Harpenden’s JBSP products have been designed to create wider lending options for brokers. Like all of the Society’s products, this new range caters for the increasingly varied house buying needs and situations emerging as part of a post pandemic era.
Joint Borrower Sole Proprietor product:
- Up to 4 borrowers (direct family members only)
- Full affordability assessments (no LTI cap)
- Interest-only considered
- Max term 35 years
- Available for Purchase, Re-Mortgage, Release of Equity
- Repayment Type Repayment, Interest-Only, Part & Part
- Min/Max Mortgage £75,000 - £1,000,000
- Max LTV Repayment 80%
- Max LTV Interest-Only/Part & Part 75%
Craig Middleton Harpenden’s Mortgage Sales Manager commented: “The lending environment is changing rapidly. Our new JBSP products provide a great new option allowing families to pool resources and support one another so the most appropriate property can be purchased for their requirements.
Our policy of lending to people in varied types of employment and with different income sources has kept pace in these quickly evolving times too. We lend to people who are employed, self-employed and retired. We pride ourselves on being flexible and accommodating to the changing nature of income.
As with our full mortgage range, the JBSP products are manually underwritten, allowing us to review applications in greater detail, taking a deeper dive into income with a view to being able to say ‘yes’, when some high street lenders may reject a complex mortgage application. We look forward to supporting our broker partners as they use our new JBSP products to harness new business development opportunities with their customers.”
Harpenden’s Joint Borrower Sole Proprietor Product Summary
|
Mortgage Product |
Initial Rate |
Follow on rate |
APRC |
LTV |
Product Fee |
Application Fee |
ERCs |
|
2 Year discount variable Repayment |
2.85% |
4.19% |
4.0% |
80% |
£999 |
£100 |
2% |
|
2 Year discount variable Interest Only |
2.85% |
4.19% |
4.1% |
75% |
£999 |
£100 |
2% |
|
2 Year discount variable Repayment |
3.35% |
4.19% |
4.2% |
80% |
£999 |
£100 |
None |
|
2 Year discount variable Interest-only |
3.35% |
4.19% |
4.2% |
75% |
£999 |
£100 |
None |
|
3 Year discount variable Repayment |
2.85% |
4.19% |
3.9% |
80% |
£999 |
£100 |
2% |
|
3 Year discount variable Interest Only |
2.85% |
4.19% |
4.0% |
75% |
£999 |
£100 |
2% |
|
3 Year discount variable Repayment |
3.35% |
4.19% |
4.1% |
80% |
£999 |
£100 |
None |
|
3 Year discount variable Interest-only |
3.35% |
4.19% |
4.1% |
75% |
£999 |
£100 |
None |
|
2 Year Fixed - Repayment
|
2.95% |
4.19% |
4.1% |
80% |
£1,499 |
£100 |
2% Year 1 1% Year 2 |
|
2 Year Fixed – Interest Only
|
2.95% |
4.19% |
4.2% |
75% |
£1,499 |
£100 |
2% Year 1 1% Year 2 |
Harpenden’s full product range can be viewed here.
