Our Joint Mortgage Sole Owner arrangements offer a family solution to affordability. You may have always thought of it as a way for parents to help their children onto the property ladder or financially assist them with renovations.

But did you know a JMSO can also be used by adult children to help their parents with affordability in later life? It can be great way to enable parents to stay in their family home for longer without the need to downsize.

Benefits of our JMSO arrangement

• Up to four incomes can be used for affordability - one or two borrowers (who will own and occupy the property) can be supported by up to two other family members
• Supporting family members will not be liable for stamp duty on a second home – they will be listed on the mortgage but will not own the property.
  

Who is it suitable for? 

• Adult children helping their parents borrow in later life
• Parents helping their children buy their first home, step up the property ladder or help with renovations
• Couples with a Buy to Let property where the owning partner does not have sufficient income of their own.
• Restricted to parents and adult children and cannot be used for grandparents or other family members
  

Generous age limits apply 

For JMSO mortgages our standard generous age limits apply for the main (occupying) borrowers. 

• Owner Occupier JMSO mortgages:
  – Repayment mortgages, up to a maximum age of 95 at the end of term
  – Interest-Only up to a maximum age of 89 when the loan commences
  – Up to 80% LTV
• If your client needs a Buy to Let mortgage, they can apply for a JMSO arrangement on our standard product range:       
  – Maximum age of 89 when the loan commences
  – Up to 70% LTV.

If any of the loan is on an Interest-Only basis, the mortgage must finish before either the expected retirement age of the eldest supporting (non-occupying) borrower or by age 70, whichever is sooner.

Find out more and see just how flexible we can be!

For more information on our mortgage products, please visit our website or contact your local BDM or our mortgage desk.

We'd love your feedback! Complete our broker survey to be in with a chance of winning £250*. Plus we'll donate £2 to Epsom & Ewell food bank for every response received.

The survey will be closed at 5pm on 28 June and we'll notify the winner by 12 July 2023.

Enter Here

Semi-exclusive products

Did you know that on top of our standard range of products we have additional semi-exclusive products available via our packaging partners? Speak to your local Business Development Manager for more information. 

* Prize draw terms and conditions

1. The closing date is 28 June at 5pm.
2. Only one entry per person.
3. No purchase necessary.
4. Prize draws and competitions are only open to UK residents aged 18 years or over.
5. Employees of Family Building Society and their families are ineligible to enter.
6. The prize draw is £250 which can be paid by transfer to your bank account or by cheque.
7. The winner will be drawn randomly using a secure computer-based program under independent supervision. The judge will oversee the draw and the judge's decision is final.
8. Our website will be updated to confirm the draw has taken place no later than 12 July 2023. We will not publish the winner’s name to maintain their anonymity.

In these terms and conditions "we", "us" and "our" refer to Family Building Society. By entering this prize draw entrants agree to be bound by these terms and conditions.