Mortgages with Complex Income.

  • Some mortgage applications are declined not because the client cannot afford the mortgage, but because the income does not fit the lender's policy.


  • Mortgage Centre helps clients with complex income structures where a more detailed review may be needed before approaching a lender.

[ COMPLEX INCOME ]

  • Self-employed income

  • Limited company director income

  • Salary and dividends

  • Retained profits

  • Contractor day rate income

  • CIS income

  • Multiple jobs

  • Bonus income

  • Overtime

  • Commission

  • Shift allowance

  • Car allowance

  • Rental income

  • Recently changed employment

  • Fluctuating income

Why complex income cases are declined?

Lenders apply different rules when assessing income. A lender may decline or reduce borrowing if income is variable, trading history is short, bonus or overtime is irregular, commission fluctuates, accounts show changing profit or the lender will only use part of the income.

How we can help?

Mortgage Centre reviews your income evidence, affordability, credit profile, deposit and property plans before a lender approach is considered. This can help identify lenders who may be more suitable for complex income cases.

[ FAQs ]

  1. What counts as complex income?

    Complex income can include self-employed income, bonus, overtime, commission, contractor income, multiple jobs, retained profits or fluctuating income.

  2. Can I get a mortgage with variable income?

    Possibly. Some lenders may use an average, while others may use a lower figure or exclude certain income.

  3. Can lenders use bonus or overtime?

    Some lenders may use bonus or overtime if it is regular and evidenced.

  4. Can company directors use retained profits?

    Some lenders may consider retained profits, but not all.

  5. Can complex income affect how much I can borrow?

    Yes. If a lender only uses part of your income, borrowing may be lower than expected.

[ WHAT DO YOU NEED ]

Personal

Passport

Proof of address

Credit report

Income

Payslips & P60



SA302s & Accounts



Bank statements

Property

Memorandum of Sale

Estate agent details

Solicitor details

Your Questions, Answered

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[ GLOSSARY ]

  • HMO: House in Multiple Occupation

  • SPV: Special Purpose Vehicle

  • IVA: Individual Voluntary Arrangement

  • DMP: Debt Management Plan

  • CCJ: County Court Judgment

[ DISCLAIMER ]

Your home may be repossessed if you do not keep up repayments on your mortgage.