Bonuses | Irregular Income | Commission Mortgages

Contact Us

Or Give Us a Call
To Speak To An Advisor
020 7562 5767

Your home may be repossessed if you do not keep up repayments on your mortgage

Being a City based firm, the majority of our clients receive income from bonuses, commission, and vested stock options. Knowing how to approach a lender with this sort of irregular income is crucial. An inexperienced broker can get an application declined that an experienced broker will get agreed. So be careful who you choose to use.

As a rule of thumb high street lenders will allow up to 50% of any regular bonus income to be included in your affordability calculation. This bonus will need to be paid in cash and shown on your payslip and P45. In addition, there will need to be a discernible track record of the bonus being paid – usually over a number of years, and from the same firm.

Some of the things we can do include:

  • Using up to 100% of any cash bonus payment
  • Using 100% of commission payments
  • Including vested or deferred bonus as part of the application
  • Using your bonus even if it is your first one, or you have recently moved firms

Contact us today to discuss irregular income lending