Mortgage application

[BreezyDuck]

Hi guys,

I have submitted a mortgage application. They declined my application due to affordability however, I was underpaid a bonus- which I am now getting paid. I have got employers letters to state this. Do you think they will take in to account the bonus?

Bonus is not guaranteed income, so unless it reduces ltv as a deposit and that changes the affordability probably not.

No they look at regular income

Sorry my fault-, I should have been clearer it’s classed as an ongoing retention payment

Unless it's a guaranteed regular amount they won't take it into account.

Doubtful. I mean, if it's an ongoing retention payment then why is it not just part of your salary? Regardless of what it is being called is it definitely guaranteed? Also, how much of a difference is it going to make to the amount that you can borrow, does it form a substantial part of your salary?

Approved 🎉