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Mortgage and commission based salary

(5 Posts)
waddleandtoddle Fri 18-Mar-16 15:46:59

Can anyone please advise on where to go for a mortgage and have commission based earnings taken in to account? I've a decent basic, but make the vast amount of my take home in commission, which my bank is not counting now we are applying for a new mortgage. Whilst I can understand it isn't guaranteed, the payments have been consistent for years. Even if a moderate amount - say 10k - is taken in to account, it significantly affects the size of the next house we can buy.

Thanks!

WhatsGoingOnEh Fri 18-Mar-16 15:50:27

A mortgage advisor is your best bet. Mine was fantastic - got me a Woolwich mortgage despite the fact that I'm self-employed with a very sporadic income. My advisor was Richard Alton of Alton Mortgages.

Good luck!

Kriek Fri 18-Mar-16 15:51:14

I'd speak to a Mortgage Broker, they are able to direct you to a range of products specifically designed for your requirements.

EssentialHummus Fri 18-Mar-16 15:52:04

Go to an established "whole of market" broker who can access mortgages from Saffron, Mortgage Works and other, smaller lenders who can take these things into account. You're welcome to my broker's details if you like, though I don't think there's a shortage of them!

waddleandtoddle Fri 18-Mar-16 16:03:08

Ok, I'll go to a mortgage broker. I was a bit surprised to find my bank was willing to discount so much of my income! It's only been 6/7yrs but the rules are so much different.

Thank you for the pointers!

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