What income can qualify for a UK mortgage?

Image of what income can be used to qualify for a UK mortgage.
Sunday March 19, 2023

Q: What income can be used to secure a UK mortgage?

A: That’s easy! Almost anything! Earnings, overtime, bonuses and commissions, investment dividends, rental yields – even the coins you’ve saved up in your swear jar (oops, just me then?!)

Theis to have proof of any source of income that you’re hoping to use to secure your mortgage. Lenders will want to see solid¬†documentary evidence that the income you earn is enough for you to comfortably meet your mortgage repayments.

Let’s explore further…

‍Employment income; otherwise known as wages or salary. Lenders will usually require payslips and employment contracts to verify your income.

️Self-employed income; if you earn money by working for yourself or on a freelance basis, you will need to supply a lender with documentation such as tax returns and financial statements.

Bonuses and commissions; if you earn overtime️, bonuses or commission as part of your employment, then you will need to evidence this in payslips, potentially 12 – 24 months’ worth.

Rental income; if you have rental properties and wish to use the income you’re making, lenders will usually require tenancy agreements and proof of rental income.

Investment income; including gains made from investments, such as stocks, shares, and dividends. You will be expected to provide bank statements and investment portfolio statements.

Pension; state or private pensions can be used to qualify for a mortgage. Lenders will require proof of the pension income, such as pension statements.

All lenders have different criteria and requirements when it comes to accepting sources of income. Come and speak to us at¬†largemortgageloans.com¬†and we’ll be happy to go through your options.

Give us a call ️or drop us a message¬†today.

Our insights


We are the UK’s leading specialist in delivering innovative and bespoke financing solutions to global clients.

Reviews


Specialists in creating innovative and bespoke funding solutions.

Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

largemortgageloans.com is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: www.fca.org.uk. The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Largemortgageloans.com Ltd is a licensed credit broker, and not a lender.

Largemortgageloans.com Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.

largemortgageloans.com
Make An Enquiry

London Office (Main):

020-7519-4900

London Office (Main):

info@largemortgageloans.com

Largemortgageloans is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London