diff --git a/Makefile b/Makefile
index e088497..4986150 100644
--- a/Makefile
+++ b/Makefile
@@ -313,6 +313,7 @@
 
 # Avoid 'Not enough room for program headers' error on binutils 2.28 onwards.
 LDFLAGS_barebox += $(call ld-option, --no-dynamic-linker)
+LDFLAGS_pbl += $(call ld-option, --no-dynamic-linker)
 
 # Read KERNELRELEASE from include/config/kernel.release (if it exists)
 KERNELRELEASE = $(shell cat include/config/kernel.release 2> /dev/null)
@@ -328,6 +329,7 @@
 export CFLAGS CFLAGS_KERNEL
 export AFLAGS AFLAGS_KERNEL
 export LDFLAGS_barebox
+export LDFLAGS_pbl
 
 export CFLAGS_UBSAN
 
diff --git a/arch/arm/Makefile b/arch/arm/Makefile
index 740b079..29fd8e2 100644
--- a/arch/arm/Makefile
+++ b/arch/arm/Makefile
@@ -140,6 +140,7 @@
 # Add cleanup flags
 CPPFLAGS += -fdata-sections -ffunction-sections
 LDFLAGS_barebox += --gc-sections
+LDFLAGS_pbl += --gc-sections
 
 # early code often runs at addresses we are not linked at
 CPPFLAGS += -fPIE
@@ -150,6 +151,12 @@
 LDFLAGS_barebox += -static
 endif
 
+ifdef CONFIG_PBL_RELOCATABLE
+LDFLAGS_pbl += -pie
+else
+LDFLAGS_pbl += -static
+endif
+
 KBUILD_BINARY := barebox.bin
 
 barebox.s5p: $(KBUILD_BINARY)
diff --git a/arch/mips/Makefile b/arch/mips/Makefile
index 72b77ad..486dfd8 100644
--- a/arch/mips/Makefile
+++ b/arch/mips/Makefile
@@ -44,6 +44,7 @@
 
 LDFLAGS += $(ldflags-y) -m $(ld-emul)
 LDFLAGS_barebox += $(ldflags-y)
+LDFLAGS_pbl += $(ldflags-y)
 
 #
 # CPU-dependent compiler/assembler options for optimization.
diff --git a/images/Makefile b/images/Makefile
index 34b7a56..650baf1 100644
--- a/images/Makefile
+++ b/images/Makefile
@@ -54,7 +54,7 @@
 	$(call if_changed_dep,cpp_lds_S)
 
 quiet_cmd_elf__ ?= LD      $@
-      cmd_elf__ ?= $(LD) $(LDFLAGS_barebox) --gc-sections		\
+      cmd_elf__ ?= $(LD) $(LDFLAGS_pbl) --gc-sections		\
 		-e $(2) -Map $@.map $(LDFLAGS_$(@F)) -o $@		\
 		-T $(pbl-lds)						\
 		--start-group $(barebox-pbl-common) $(obj)/piggy.o	\