Up to four people can apply for a JBSP mortgage with Harpenden Building Society: up to two borrowers as the proprietors, and up to two additional joint borrowers.

Harpenden Building Society only allows direct family members (i.e. parents and children) to act as non-occupying or ‘supporting’ borrowers on a JBSP mortgage.

Yes, Harpenden Building Society asks all non-occupying borrowers on a JBSP mortgage to take Independent Legal Advice (ILA) prior to completion.

A guarantor has agreed to be responsible for repaying the mortgage if the primary borrower(s) fail to make the payments. Guarantors are expected to be able to support the whole mortgage; they are often required by lenders when the borrower's creditworthiness or income is not sufficient to qualify for the mortgage alone.

Joint borrowers on a JBSP mortgage and guarantors are legally responsible for the mortgage debt, however all borrowers on a JBSP mortgage share equal responsibility for the mortgage from the outset, while a guarantor only provides additional security for the lender by agreeing to repay the mortgage if the primary borrower(s) default.

As with non-occupying borrowers on a JBSP mortgage a guarantor has no ownership interest in the property. However, all joint borrowers are named on the mortgage, while a guarantor is not.