Key Details

• Residential purchase.
• Mortgage amount £840,000.
• Loan to value 75%.
• Traditional timber property dating to Tudor period.

Challenge

An opportunity to join a new employer during bonus season meant our client did not receive his annual bonus. To compensate, his new employer agreed a sign-on bonus as part of the new package.

We needed the sign-on bonus to be viewed as income to achieve borrowing needed. However, lender’s generally disregard income considered ‘one-off’ and ‘exceptional’ in nature.

The property being centuries old and of timber construction would also be a consideration for many lenders.

Solution

Working with the underwriting team at a high street bank, prior to application we provided rationale for the underwriter to be comfortable to include the sign-on bonus. The property required a specialist report, that the lender found acceptable.

Talk to us today

Speak with our consultants today for a better idea of what’s possible.

‍t. 020 8156 3166

e. luke@haydenblair.co.uk

WhatsApp chat here‍

Book a call with Luke here