Sole applicants must have a gross income of £75k+ (excluding the annual bonus).
For joint applications, one applicant needs a gross income of over £75k, or a joint gross income of £100k+ (excluding the annual bonus).
Customers will be asked to provide their past two years’ P60 or HMRC Annual Tax Year Overview and the latest bank statement. The lower of the current year’s bonus or the two year average will be included in the affordability calculation.
This new policy will apply to any existing pipeline deals that undertake a pre contract variation, but do not apply to Buy To Let applications.
