How Fast ILA Protected Two Income Boosters Supporting Their Daughter’s First Home
A retired couple contacted Fast ILA after agreeing to support their daughter’s mortgage application through Generation Home’s Income Booster scheme. While the daughter would own the home, the parents were asked to sign the mortgage deed and join the loan as joint borrowers—without being on the title or receiving any ownership interest.
They were surprised to learn they would be liable for a £246,999 mortgage over 31 years, even though they wouldn’t own the property or live in it. The lender required them to obtain independent legal advice before completion.
Fast ILA advised, certified, and returned all legal documents—within one working day.
What Is an Income Booster Mortgage—and What Are You Signing?
Generation Home’s Income Booster model is a type of Joint Borrower Sole Proprietor (JBSP) mortgage. It allows parents, relatives, or friends to help someone qualify for a mortgage by joining the loan as additional borrowers.
The key issue? You don’t own the property, but you’re still on the hook for the entire debt.
Income boosters:
- Are not named on the title
- Cannot occupy the property
- Have no claim to equity or sale proceeds
- Are jointly and severally liable for the mortgage
- Can be pursued directly by the lender for missed payments
This is a serious financial and legal commitment—and UK lenders require you to obtain independent legal advice to confirm you understand what you’re signing.
How Fast ILA Helped These Clients Avoid Hidden Risks
Our clients were supporting their daughter’s purchase of a £350,000 home, funded by a Generation Home mortgage for £246,999. They had received the lender’s paperwork but didn’t fully understand the implications.
Fast ILA stepped in to:
- Review the mortgage offer, deed, and ILA documents
- Schedule a same-day video appointment
- Explain the legal structure of the JBSP mortgage
- Clarify their non-ownership status and what that means
- Outline their joint liability for the full term of the mortgage
- Explain the “ejector seat” clause, which releases boosters at age 85
- Advise that any contributions to the deposit or repayments do not create ownership rights without a formal agreement
Once both clients confirmed they understood and wished to proceed, we verified their ID and certified the legal documents. The completed forms were returned to the conveyancer the same day, clearing the path to mortgage completion.
What the Clients Gained
- Full understanding of their legal and financial risk
- Same-day advice and certification
- Fixed-fee legal service from a regulated solicitor
- No delays to the purchase
- Peace of mind knowing they had not signed blindly
All of this was completed for just £120 + VAT per person, with no hidden costs or delays.
Why Use Fast ILA for Income Booster or JBSP Mortgages?
If you’ve been asked to support a mortgage but won’t be on the title, you are likely part of a JBSP or income booster mortgage. These agreements are complex and legally binding—and they create liability without ownership.
Fast ILA provides:
- Same-day video appointments with a solicitor
- Fixed-fee advice from £120 + VAT
- Full legal review of your lender’s documents
- Completion of all certification forms for Generation Home and other lenders
- Independent legal advice that protects you, not the lender
We act for clients across the UK and advise on JBSP mortgages from all major lenders including Metro Bank, Barclays, and others.
Don’t Sign a Mortgage You Don’t Understand
Being an income booster is a generous decision—but it comes with real financial consequences. Make sure you understand the risks before you commit.
To book your ILA appointment, use the booking form on our website.
