If you are looking for a mortgage with a Trust income, then a consistent track record of income is important. Affordability criteria applies, and a specialist lender is often the only option.
Your Trust income may be your only source of income or may be in addition to your employed salary or self-employed income. This income may be receivable monthly but is often paid quarterly or annually. Lenders may not wish to consider your Trust income in their affordability assessments or may only assess part of it. This means you may not be able to obtain the level of borrowing you need.
There are examples of Trust income mortgages being approved with a 5% or 10% deposit, however, a 25%-30% deposit requirement may be more typical. There are also some instances where lending against the trust directly, may be easier than lending against the property. As you can imagine, this can get complex, but our advisers can quickly ascertain if that is possible or not.
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 to help achieve 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 and loan affordability is carefully scrutinised by the lender. Those with a complex Trust income 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 your 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 mortgage with Trust income.
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.