Loughborough Building Society has upped the maximum LTV on its joint borrower sole proprietor (JBSP) offering.

From today, the maximum LTV has changed from 85% LTV to 90% LTV.

Discounted rates start from 2.75% and some borrowers may be able to take out a 40-year mortgage term.

The products are for residential use only and are only available in England and Wales.

Loughborough Building Society business development manager Ashley Pearson says: “We launched this solution in November 2020… and have been pleased with the response.

“Increasing the LTV to 90% for standard JBSP means we’ll be able to help more people realise their home ownership ambitions. It also sits nicely alongside our 100% deposit guarantee JBSP offering”.

Yesterday, 26 October, Skipton Building Society increased the maximum LTV for its JBSP, non-occupying borrowers, three to four person applications and family and tenant purchase products.