Mortgage questions from a ftb

johnnyloco

Hi hoping someone can help answer my questions.

In my current job I will get £15000 in bonuses. Half in 2 years and the other half in 4. I won't get them again after this. Can these count towards income at all?

Is it possible to get 5 times mortgage loan? Even with say a 30% deposit? Or is there some law saying lenders cant do this.

[Deleted User]

Some lenders do go up to 5x income multiples but that is a guideline as underneath this is the affordability calculation that looks at disposable income levels.

When they take things like food, council tax, utilities, recreation costs, travel costs etc, the disposable income for someone on 20k is going to be less than the disposable income for someone on 50k.

multiples are a limit to borrowing set by the lender. They can easily go less than their published multiple but will very very rarely (if ever) go over it

ACG

I cant see how you could use a bonus that will not be ongoing or regular or even in receipt of at the moment personally.

It could be possible to get 5x income, but that would be income excluding the bonus.