Is Vested Share Income acceptable for mortgage affordability purposes?
Trinity Financial has access to banks and building societies accepting vested stock income to secure more generous mortgages.
Some of the biggest banks accept up to 100% of vested stock, providing clients can show a regular income from the source. They will typically need to give the lenders compensation statements and vesting schedules, bank statements and evidence of the source income like stocks and shares portfolios.
The lenders may also require a letter from an accountant confirming income for the last six months. In addition to advising sources, they may want confirmation there are no encumbrances, and the income covers the term of the proposed mortgage.
Aaron Strutt, product director at Trinity Financial, says: “More of the lenders have set up specialist teams to agree to applications for larger mortgage loans for clients with more complex financial situations. These lenders offer great rates and low arrangement fees.
“Some lenders accept up to 100% of vested share income while others have limits of 50% of the income. If the client has a strong credit history and the vested income is a regular and sustainable part of the applicant’s compensation package, we have access to approximate ten lenders using the vested income.”
Our brokers are getting more enquiries from professionals working at large firms like Amazon, Apple, Google, Microsoft and Netflix as vested income increases in popularity.
We previously arranged a £1.2m mortgage for an IT professional using his vested stock income to boost the maximum loan size.
Call Trinity Financial on 020 7016 0790 to secure a vested stock mortgage or book a consultation
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