The Assisted Mortgage
The Assisted Mortgage is a Joint Borrower Sole Proprietor arrangement that allows a buyer and sponsor to combine their income and apply for a joint mortgage, without co-owning the property.
It's perfect for first time buyers, but could also help clients whose circumstances have changed, meaning they need to move up the property ladder or buy their own home.
Buyer: The individual who will own and live within the property (input as applicant two)
Sponsor: The individual supporting the buyer (input as applicant one)
You can find out more about The Assisted Mortgage by visiting the West Brom's website.
Important information
- Our standard lending criteria applies
- Up to 90% LTV
- A maximum of two applicants
- The sponsor must have a close relationship with the buyer. Each case will be assessed individually
- As joint borrowers, both the buyer and sponsor are liable for the monthly mortgage repayments and the total amount borrowed
- The sponsor cannot reside in the property
What you need to know about submitting a case
- Both the buyer and sponsor are advised to seek independent legal and tax advice before completion
- Applicant one must be the sponsor
For further information on how to submit a case, please read The Assisted Mortgage guide.