Loughborough Building Society has added a joint borrower sole proprietor mortgage to its Family Assist range.

At a maximum of 85 per cent LTV, it is available on a three-year discount with an initial rate of 3.35 per cent or a five-year fix at 3.89 per cent.

The maximum loan is set at £400,000 and the maximum term at 35 years. Both version of the product come with a free standard valuation.

Loughborough Building Society business development manager Ashely Pearson says: “I’m really glad to be able to offer joint borrower sole proprietor to all ages.

“It’s not only first-time buyers who need help, but also older family members with reduced income and those whose income doesn’t support the mortgage they need regardless what age – if they have family members who are willing and able, it’s a great solution.”