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July 9, 2026
Metro Bank has launched a new 100% mortgage product to help both first time buyers and home movers buy a home without a deposit by leveraging support from a family member.
The technically-titled Joint Borrower Sole Proprietor (JBSP)mortgage allows a family member to help someone qualify for a mortgage without becoming a legal owner of the property.
This new Metro Bank mortgage allows customers to borrow between 95% to 100% of the property’s value, as long as they have an immediate family member to act as the joint borrower and share legal responsibility for the mortgage repayments.
This 100% mortgage is designed to help buyers who may be struggling to save a large deposit or borrow enough based on their income alone, while allowing parents or other immediate family members to support their application without owning the property.
Both the borrower and joint borrower will be put through enhanced affordability checks to ensure the product is suitable for all parties.
Charles Morley, director of mortgage distribution at Metro Bank, commented: “For many first time buyers today, getting on the property ladder can feel impossible, and family members often want to do anything they can to help.
“Acting as a joint borrower provides a way for immediate family to be that support without watering down the ownership of the property or being asked to provide a deposit. At Metro Bank we understand the importance of lending responsibly while continuing to be innovative and challenging, and we’ve carefully developed our mortgage product with this in mind.”
Our Mortgage Expert Sarah Tucker said: “I think this is a fantastic opportunity to help even more first time buyers get on the property ladder. We know that saving a deposit and affordability are two of the biggest barriers facing potential homeowners. In fact, HomeOwners Alliance research found the biggest housing concern in the UK is the ability of first time buyers to get on the housing ladder.”
“Innovative products like this allow us to be creative in finding the right solutions for buyers. It’s also really useful for those experiencing a separation who want to stay in the family home but cannot afford a mortgage on their own, even though they’re comfortable with the monthly payments as a solo borrower.”
Want to find out more about this 100% Joint Borrower Sole Proprietor mortgage? Get fee-free mortgage advice from the award-winning expert advisers at Mortgage Advice Bureau.
Get fee-free mortgage advice from the award-winning expert advisers at Mortgage Advice Bureau.
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A Joint Borrower Sole Proprietor mortgage enables someone else – usually a parent or another immediate family member – to help you qualify for a mortgage without becoming a legal owner of the property.
The parent and child will both be named on the mortgage. But only the child will be named on the property’s deeds. This means the stamp duty surcharge can be avoided, where the parent already owns another property because they do not have an ownership interest in the home.
Both the borrower and the joint borrower will be deemed liable for the repayments.
With this mortgage from Metro Bank, both borrower and joint borrower will be put through ‘enhanced affordability checks’ to ensure the product is suitable for all parties.
If you’re considering a JBSP mortgage, it’s worth comparing deals carefully as lenders’ eligibility criteria, maximum borrowing limits and family member requirements vary.
Metro Bank isn’t the only lender offering 100% mortgages, although each product has different eligibility criteria and work in different ways.
For more information on these, read 100% Mortgages – should I get one?
If a Joint Borrower Sole Proprietor mortgage isn’t right for you, there are several other ways parents can help their children buy a home, including:
For more information on all these mortgages, read our guide The Bank of Mum and Dad – How to help your child buy a home
Get fee-free mortgage advice from the award-winning expert advisers at Mortgage Advice Bureau.
The average first time buyer deposit in 2024 was £61,090, according to Halifax and the average deposit size was 20%. First time buyers in London paid an average deposit of £124,688. Halifax’s figures show how much first time buyer deposits varied across the UK:
A Joint Borrower Sole Proprietor (JBSP) mortgage allows someone, usually a parent or another close family member, to help you qualify for a mortgage without becoming a legal owner of the property. Both the borrower and joint borrower are responsible for the mortgage repayments, but only the borrower owns the home and is named on the title deeds.
Eligibility varies between lenders, but JBSP mortgages are typically aimed at first-time buyers, home movers and others who can afford the monthly repayments but need help meeting a lender’s affordability criteria. Most lenders require the joint borrower to be an immediate family member, such as a parent, although their specific requirements differ.
Yes. A Joint Borrower Sole Proprietor mortgage is one way parents can help without becoming legal owners of the property. Other options include family offset mortgages, guarantor mortgages and gifting money towards a deposit. The right option will depend on your circumstances and the lender’s criteria.
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