The Times - Happy days for homebuyers with a bonus
It’s the biggest week of the year for many City workers: investment banks reveal how well they’ve done and employees are told what their bonuses will be. Then, of course, it’s time to decide what to do with the money.
A growing number of mortgage lenders will now take up to 100 per cent of bonus income into consideration. Kensington Mortgages, Nationwide and Skipton Building Society will consider up to 100 per cent of a prospective borrower’s bonus income, provided there is a track record of payments.
Why the shift? Aaron Strutt, of Trinity Financial, the broker, attributes it to a more favourable lending climate. “With everyone lowering their rates and more people out there looking to buy before base rates go up, many of the banks and building societies are looking to lend more money. They have started to grow their variable income sectors in recent years as the borrowing appetite increased.”
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
