If you are looking for a commission income mortgage, then a consistent track record is important. What we mean by this is that commission is paid on a monthly basis with no gaps or no huge variances. There are quite a few lenders that will take 100% of the income no matter how it is split between basic and commission.
With a 2-year track record, most lenders will take an average of the P60 figures when assessing what income is to be assessed.
Again, with a strong track record on an upward curve, some lenders will use the most recent year, or average of the last 3-6 months’ payslips. This can work out very favourably for you.
We understand that without a standard monthly salary the mortgage market can be hard to navigate. This is not just in terms of borrowing level, but type of mortgage, interest rate, term and fees.
We can advise you on which lender is the most appropriate for you, depending on the level of borrowing you are looking for. We work for you to present your case to the most suitable lender for a positive outcome for you and your family.
A mortgage is such a large financial commitment. Your loan affordability is carefully scrutinised by the lender. Those with a complex income with a large commission element can find this quite a painful process. We ease this pain for you.
As you can see above, the more complex the income, the more help you often need to be approved for a commission income mortgage.
We specialise in this area, so would encourage you to speak to one of the The Team. We can advise you on what your options are before progressing too far with an application. This will ensure you get a smooth experience when applying for your commission income mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on your circumstances (ie. £1000 on a £100,000 mortgage). A typical fee is £495 plus we will receive commission from the lender.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Rose Capital Partners Ltd is an appointed representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Limited which is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy-to-Let. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. Rose Capital Partners Ltd. Registration No. 08843654 registered in England and Wales. Registered Address, Leigh Saxton Green, Clearwater House, 4-7 Manchester Street, London W1U 3AE.