May 09, 2017
Mr G earned a basic salary of £28,000 but another £20,000 in overtime. He was looking for a mortgage of £215,000.
- The first bank would only lend £171,000
- However, another would go to £216,000
This is because most lenders will only use 50% of any overtime, bonus or commission when assessing the loan required. Others will use 100% of the additional monies.
These are a small number of examples of how we have helped our clients obtain the lending they needed.