Boosting Affordability – flexible income criteria to help your clients borrow more
New enhancements to affordability and income assessments across the residential and second charge mortgage product range have been brought in to help increase the borrowing potential of your clients.
What are the changes?
- Employed customers:
- UTB now accept 75% of regular overtime, commission and bonus, with latest two payslips and P60
- Simply key full amount into the 1APP Portal, the rest is done for you!
- Self-employed customers:
- Applicants share of Net profit now used for income
- Contractors now based on daily rate x 5 x 48 weeks
- Pensions and trusts:
- UTB will now use 5% of the capital as income
- UTB will ignore year end lump sum pension contributions
Can we help?
Just ask our team what we can do to support you and your clients
To discuss a case call 0330 127 0000
or email newbusiness@allmoneymatters.co.uk
Refer your case to us call 0330 127 0001
or email info@allmoneymatters.co.uk