iLA | Joint Borrower, Sole Proprietor Mortgage

Joint Borrower, Sole Proprietor Mortgage

Put simply, a Joint Borrower Sole Proprietor mortgage (JBSP) is a way for a relative or close friend to apply some of their income to a buyer’s mortgage application, without joining them on the deeds. This makes a JBSP perfect for lower earners or young adults who might just be starting out in their careers and struggling to meet affordability requirements.

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Why do I need independent legal advice?

Applying some or all of a family member or friend’s income to their mortgage application means that they are jointly liable for the mortgage debt (joint borrowers). In reality, for many families, the parents or grandparents might be waiting in the wings as a backup in case the buyer cannot make their monthly repayments. For others, they will opt to contribute to the monthly mortgage repayments. It’s important to note that the joint borrower is legally responsible here, so they will be obligated to step in if there are any issues!

While the joint borrower has responsibility for the debt, they don’t have any ownership of the property and won’t be listed on the deeds (sole proprietor).

ILA is required when you are entering into a JBSP, as you are being placed at risk but not receiving a benefit from entering into the transaction. The third-party formality is required to protect you from entering a transaction without knowing the potential risks involved, and make sure that you understand what it is you are legally agreeing to.

How can you help?

Our dedicated team is here to make sure that you do not experience any delays or inconvenience and, by using our decades of expertise helping clients with banking, finance and property matters, and deploying leading technology, we can deliver the ILA need in the most fast, efficient and cost effective way

  • Step 1 - BOOK YOUR ILA

    We offer a same day service, and our team of dedicated experts are available 7 days a week between 8am - 8pm.

    You can book your ILA online now, or request an immediate call back to arrange a convenient time for your ILA. You can also just call in to speak to one of our dedicated iLA team members.

    We will help guide you through the process and explain what documents we will need to provide your ILA.


    Once we have received the ILA documents and on-boarded you as a client (using leading technology to ensure the process is as quick as possible) we can usually provide you with your ILA (via an online meeting) within 2 hours. Or you can let us know a day and time that suits you best.

    We will provide you with the advice online, via our iLA personalised meeting room. You will just need a laptop, phone or tablet to join the meeting. From our years of experience, the meetings tend to last for no more than 30 minutes


    During our online meeting, you will sign the relevant documentation.

    We can guarantee that your ILA will be compliant and your documents are correctly witnessed, and we will also help you to return the documents to the correct party in the transaction. Our dedicated team is here to make sure that you do not experience any delays or inconvenience.

    Following our meeting, we will immediately contact the lender to advise that the ILA has been provided and so the whole process can be completed, from start to finish, in less than a day.