Who knows which lenders are still taking bonuses into account when calculating affordability?

griggsy2005

Apologies if this has already been covered but my partner and I have finally managed to find a lender that will take my bonus payments into account when calculating our affordability. 

Whilst this is great news and will allow us to buy a house we know we can afford, the rate is far from competitive.....

I just wondered if anyone else post Covid has struggled to find a lender that will account for bonus payments and whether anyone was aware of lenders who are still willing to take into account bonus payments when calculating affordability post Covid?

Thanks in advance

haras_n0sirrah

There are a couple of lenders who are still doing it. Why not engage a broker?
Which lender have you found? 

griggsy2005

haras_n0sirrah said:

There are a couple of lenders who are still doing it. Why not engage a broker?
Which lender have you found? 

We’ve been dealing with 3 brokers...some are better than others. L&C were the only ones able to find a lender that would take the bonuses into account. The other two didn’t seem to want the business! 

I can’t remember the name of the lender but they were offering 80% LTV @ 2.1% or 85% LTV @ 2.53%. 

I was just curious to see if anyone was aware of any other lenders that still take into account bonuses and if their rates were more like 1.5% for 80% or 1.8% for 85%.

Thanks 

haras_n0sirrah

It depends on how much you are borrowing as to what the best overall rate is. On a lower loan amount a product with a higher rate, cashback, no product fees and a free val may be cheaper