Loughborough BS launches 95% LTV JBSP product

Loughborough Building Society has introduced a 95% LTV option on its standard joint borrower sole proprietor (JBSP) mortgage range.

Related topics:  Mortgages   |   Rozi Jones
|
13th January 2022
loughborough building society
"We launched this solution in November 2020 at 85% LTV and have been pleased with the response."

The two year variable discounted rate is currently 3.10% with a £499 arrangement fee, and available for residential mortgages in England and Wales.

The solution allows older family members to help out younger and younger family members to help out their elders, with up to four people on the mortgage application.

For proprietors whose income is insufficient to cover the mortgage without the assistance of additional joint borrower(s) who live independently from the mortgaged property; affordability will be assessed taking into account income and commitments of all named parties.

The Loughborough’s criteria allows borrowers to potentially take a mortgage over 40 years, rather than have a restricted mortgage term at the outset.

Ashley Pearson, BDM at The Loughborough, said: "We launched this solution in November 2020 at 85% LTV and have been pleased with the response. Introducing a product up to 95% LTV for standard JBSP means we’ll be able to help more people realise their home ownership ambitions. It also sits nicely alongside our 90% JBSP and our 100% Deposit Guarantee JBSP offerings."

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