Family-Backed Mortgage launched by NatWest

May 4, 2025 by Brendan O'Neill

Lenders

A brand new Family-Backed Mortgage product has now been launched by NatWest, which aims to make it easier for people buying a first home to get a loan.

The official name for this product is a joint borrower sole proprietor (JBSP) loan. It increases the amount that a first-time buyer can potentially borrow through the acceptance of more than one income. Customers who are deemed to be eligible for one of these mortgages will be able to apply using evidence of their income, as well as that of a friend or family member. Although that second person will contribute to repayments, they will not share in the property ownership.

NatWest is hoping that this will make it possible for a greater number of people to buy for the first time. At the moment, the maximum loan available to a first-time buyer with an income of £28,000 a year is £124,450. This falls below the average property price across much of the country.

If that first-time buyer is able to bring on board a friend or member of the family who earns £45,000 a year, they will have the potential to borrow as much as £246,000. This would significantly improve their options.

Barry Connolly from NatWest said to Mortgage Introducer that:

“Today’s launch of the Family-Backed Mortgage boosts the borrowing power of prospective homeowners by enabling them to combine incomes with a family member or friend, while retaining independence to own a home in their own name.”

This is a move that those with the CeMAP qualification will no doubt embrace.