- 100% Bonus Considered
- Limited Track Record
- No Credit Scoring Application for Some Lenders
- Common Sense Underwriting
- From 5% Deposit
- Interest Only & Repayment
- Non Sterling Bonuses
Mortgage with Bonus Income
At RockHopper we can help clients arrange a mortgage where part, or in some situations all, of their income is derived from Bonuses.
A lot of clients that contact us are frustrated that their existing Bank or Lender will not take into account any or all of their bonus income payments.
Some clients inform us that their Bank has declined them for a mortgage simply because their bonus payments are larger than their basic salary.
This may mean they cannot secure the full mortgage loan they require, have to put down a bigger deposit to buy their dream home or, in some cases, just walk away from their proposed property purchase.
For those remortgaging it may mean they can’t get a better mortgage rate than that which they currently have or perhaps they may not be able to consolidate all of the debt and lower their total monthly payments.Read More >>
We find that bonus income can be paid in several different ways – usually monthly, quarterly or annually. It generally comprises a cash payment but, for some City workers, may also include vested share options or vested cash payments over a number of years.
Our clients tell us it is difficult to get lenders to consider their complete bonus package, maybe because they do not yet have a sufficiently long track record, have recently changed jobs/roles or some of their bonus is paid in foreign currency such as US Dollars. Additionally, those clients that have vested share options as part of their bonus income typically tell us that their existing Bank will not consider this income at all.
Here at RockHopper we take a pragmatic, flexible and responsible view to bonus income. Typically, we can assist clients obtain mortgages incorporating 100% of their bonus income, even if paid in a foreign currency and in vested shares.
For a free initial, no obligation, assessment to see if we can help you, contact us now.