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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Income, Treatment - Main Income

Please be advised that if your applicant has been financially affected by Covid-19 different verification processes may be in place to those listed below. Please see our Covid-19 support page for further information.

Basic Income/Contract Type Acceptable Income Y/N Amount to be Keyed
Basic Salary Y 100%
Overtime Y 100% (60% used for affordability)
Bonus Y 100% (60% used for affordability) where received weekly, fortnightly or monthly.

Key 0% where received quarterly, half yearly or annually. 
Commission/tips/gratuities/tronc payments Y 100% (60% used for affordability)
Holiday Pay Y 100%
Fixed / Short / Temporary Contracts   -  If Company Paying Tax Y 100%
Fixed / Short / Temporary Contracts   -  If Client Paying Tax Y 100%
Employed in a Family Business   If Less than 25% Invested interest (Treat as employed) Y 100%
Employed in a Family Business  Equal to or greater than 25% Invested interest (Treat as Self Employed) Y 100%
Ltd Company - Director/Shareholder ­receiving Basic PAYE salary ONLY  less than 25% shareholding (Treat as employed) Y 100%
Ltd Company - Director/Shareholder - Wanting to use -  Basic PAYE salary ONLY   Equal to or greater than 25% shareholding (Treat as self employed) Y 100%
Ltd Company - Director/Shareholder - Wanting to use   ­Basic PAYE salary + dividends ONLY   Irrespective of share holding (Treat as Self Employed) Y 100%
Ltd Company - Director/Shareholder - Wanting to use   -Basic PAYE salary + Net Profits ONLY   irrespective of share holding (Treat as Self Employed) Y Net profits cannot be used without referral to Underwriters
Self employed - Sole Trader Y 100%
Self employed / Share holding of a Non Ltd Company   (i.e. Partnership)  Taxable Income Y Key Applicants proportion of shareholding
Employed by/Partner of PLC or LLP - Irrespective of share holding   Basic PAYE salary or drawings   (Treat as Self Employed) Y 100%
Maternity/Paternity/Adoption Pay Y 100%
Probationary Contract Y 100%
Temporary (Includes Seasonal and Piecework) N 0%
Town, Area or Car Allowance (excluding mileage). Including Large town, area allowance eg London weighting/cost of living supplement Y 100%