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Have you been able to use your bonus in your mortgage application?
fedup1982
Posts: 22 Forumite
Hi,
I have had a bonus every year for the last 6-7 years at the company i work for. The bonus is based on the companies performance but i am in the bonus scheme. The bank im doing my mortgage application with only want to know if my bonus is likely to continue but HR wont confirm this.
Has anyone else had trouble with this?
I have had a bonus every year for the last 6-7 years at the company i work for. The bonus is based on the companies performance but i am in the bonus scheme. The bank im doing my mortgage application with only want to know if my bonus is likely to continue but HR wont confirm this.
Has anyone else had trouble with this?
0
Comments
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I think only guaranteed bonuses are used to calculated affordability. Those that depend on your\companies performance won't.0
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It depends upon the lender as cannot imagine HR will change policy for the sake of your mortgage application.
Typically they either accept it or they do not, depending upon if guaranteed or not
All the bestI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
As a regular, but not guaranteed annual bonus, you (or a good broker) should be able to find lenders accepting up to 50% towards mortgage affordability.0
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