Hinckley & Rugby integrates JBSP into core mortgage range

Hinckley & Rugby Building Society has streamlined its mortgage offering by merging its Joint Borrower Sole Proprietor (JBSP) and standard product ranges into a single core range.

The mutual’s move aims to simplify the mortgage process for brokers while offering greater flexibility to borrowers.

The revised range includes six new mortgage products designed for first-time buyers requiring financial support from family or friends, borrowers seeking enhanced affordability, and clients looking for long-term lending solutions.

The update follows the Society’s previous integration of later life lending into its core offering.

NEW MORTGAGE PRODUCTS

The updated range features a selection of fixed and discounted rate mortgages:

2-year fixed (80% LTV) – 6.05%
2-year fixed (90% LTV) – 6.25%
2-year discount (80% LTV) – 5.45% (2.09% discount off the Society’s 7.54% SVR)
2-year discount (90% LTV) – 5.65% (1.89% discount off the Society’s 7.54% SVR)
5-year fixed (80% LTV) – 5.80% (until 30 April 2030)
5-year fixed (90% LTV) – 5.95% (until 30 April 2030)

The updated range enables JBSP arrangements to be more flexible, allowing borrowers to receive financial assistance from both family and friends.

TAILORED TERM FEATURE

Hinckley & Rugby has also introduced Tailored Term, a feature that allows multiple applicants to contribute to mortgage costs over different time frames — useful for JBSP mortgages where applicants have a significant age gap. Younger borrowers can extend repayments over the maximum term, while older applicants provide affordability support over a shorter period.

Tailored Term is available across all mortgage products at no additional cost.

COMMITMENT TO MORTGAGE ACCESSIBILITY

Laura Sneddon (pictured), head of mortgage sales and distribution at Hinckley & Rugby, said the integration of JBSP into the core range is about making the process simpler for brokers and borrowers.

She said: “Bringing JBSP into our core mortgage range is all about making things simpler and more accessible for brokers and their clients. It means fewer product silos and a more streamlined way to match borrowers with the right solution — whether that’s first-time buyers, those needing financial support from family or friends, or clients who need a more flexible approach to lending.

“This change reflects the way we’ve always adapted to better serve borrowers, much like when we integrated later life lending into our core offering. By keeping things straightforward, brokers can focus on what they do best—advising clients on their homeownership journey.”