- Multiple Income Sources
- Offshore Income
- Investment & Trust Income
- Foreign Currency Income
- Employed & Self Employed
- Overtime, Bonus & Commission
Mortgage with Complex Income
>RockHopper can assist clients who have complex forms of income, from multiple sources.
Usually we find clients with complex income derive it from one or more of the following sources:
- Share portfolio
- Unit Trusts
- Open Ended Investment Companies (OEIC’s)
- Premium bonds
- Savings Interest
- Multiple jobs – employed or self employed
- Non executive directorships
- Overseas/offshore income
- Freelance income
- Rental income (both commercial property and residential property)
- Royalty Income
- Pension/Savings drawdown
Typcially, clients who have complex income tell us that they are concerned that the Banks, Building Societies or Lenders they may have approached for a mortgage or remortgage will not take an “holistic” view of their income and assess affordability on all the income they receive. As a result they may have been declined for a mortgage, or offered a loan amount much less than they require.
This can result in them losing the property they wish to purchase, or not being able to raise sufficient funds for a remortgage. Often, we are told it can take days or weeks to obtain such a decision from a Lender, which causes clients a lot of frustration.
We are often informed by customers that Lenders have told them they may not have a sufficient track record of the income they wish to use, the income may be too variable to consider, the income may not be derived in Sterling and therefore subject to currency fluctuations or is just not the type of income they will consider to assess affordability.
At RockHopper, we look at all cases individually and assess each mortgage or remortgage on its own merits.
Do get in touch if you want some assistance in obtaining a mortgage with complex forms of income.
We offer a free initial, no obligation, assessment to see if we can help you.