Harpenden Building Society has brought out a new joint borrower sole proprietor (JBSP) mortgage.

It is available at up to 80% LTV for purchase, remortgage and equity release and 75% LTV for interest-only and part-and-part repayments, with a minimum loan amount of £75,000 and a maximum loan amount of £1m.

Up to four borrowers – directly family members only – may apply for the mortgage, which features no loan-to-income cap, using a full affordability assessment instead.

The JBSP offering comes in ten flavours, including variable rates and fixed rates. The former start from an initial rate of 2.85% for a two-year fix and the latter from 2.95% for a two-year fix.

Harpenden mortgage sales manager Craig Middleton says: “The lending environment is changing rapidly.

“Our new JBSP products provide a great new option allowing families to pool resources and support one another so the most appropriate property can be purchased for their requirements.”