Foreign Nationals without indefinite leave to remain
We can consider foreign nationals without indefinite leave to remain where they hold an eligible work visa and have a minimum of 12 months’ employment history.
We can also consider applicants on a spousal visa as part of a joint application.
Applicants on a skilled worker visa or health and care worker visa must be in permanent employment.
The maximum LTV is 95%
We calculate affordability based on the property’s rental yield. Full details of our ICR calculation can be found using our Holiday Let Calculator.
We’ll consider this income as part of our affordability assessment. We’ll also consider how sustainable the income is over the mortgage term.
We can accept bonus income as a source of income for affordability purposes. We’ll use up to 100% where there is evidence of a consistent payment history.
We can accept bonus income as a source of income for affordability purposes. We’ll use up to 100% where there is evidence of a consistent payment history.
We can accept bonus income as a source of income for affordability purposes. We’ll use up to 100% where there is evidence of a consistent payment history.
We’ll consider this income as part of our affordability assessment. We’ll also consider how sustainable the income is over the mortgage term.
We ignore ‘Child Care Vouchers’ when assessing affordability.
We can consider 100% of commission as a source of income for affordability purposes, subject to underwriter assessment.
We can consider 100% of commission as a source of income for affordability purposes, subject to underwriter assessment.
We can consider 100% of commission as a source of income for affordability purposes, subject to underwriter assessment.
We can consider 100% of commission as a source of income for affordability purposes, subject to underwriter assessment.
We don’t accept seasonal contracts as a source of income for affordability purposes.
We’ll consider this income as part of our affordability assessment. We’ll also consider how sustainable the income is over the mortgage term.
We can consider Employer’s Housing Allowance as a source of income for affordability purposes.
We can consider additional duty hours as an acceptable source of income for affordability purposes.
We can consider car allowance as a source of income for affordability purposes, subject to underwriter assessment.
We can consider future income in our affordability assessment where an applicant is due to start a new role, receive a promotion or receive a pay rise within three months of the mortgage application date.
We don’t consider foreign currency as an acceptable source of income for affordability purposes.
We calculate affordability based on the property’s rental yield. Full details of our ICR calculation can be found using our Holiday Let Calculator.
We can consider benefit income where it’s guaranteed for life.
We can consider rental income and may consider up to 100% of rental income.
We can consider company pension income as an acceptable source of income for affordability purposes (UK sterling only).
We can consider private pension income, including annuities, personal pensions and company pensions, as an acceptable source of income for affordability purposes (UK sterling only).
We can consider income from a self-administered drawdown pension as an acceptable source of income for affordability purposes (UK sterling only).
We can consider income from a Self-Invested Personal Pension (SIPP) as an acceptable source of income for affordability purposes (UK sterling only).
We can consider income from a second job as an acceptable source of income for affordability purposes. We’ll assess whether both roles are likely to be maintained over the mortgage term.
We can consider applications where self-employed profits have reduced year on year. We’ll use the most recent, or lowest, year’s income for affordability purposes.
We can consider applicants with only one year’s accounts on a case-by-case basis, subject to underwriter discretion.
We don’t accept the repayment of a director’s loan as an income source for affordability purposes.
We don’t accept salary and net profit when assessing affordability.
We accept salary and dividends and can also consider retained profits where:
- The applicant(s) are 100% shareholder(s)
- Accounts for the last two years which show the retained profit at the start and end of each tax year. Retained profit is taken as the growth in retained earnings across each financial year (closing vs opened). We calculate retained profit as the average of retained profits.
from the latest and current year - Income remained stable or increasing over the last two years
- We can also consider one year’s figures where the latest year is close to completion and an accountant can confirm the expected profit.
We accept net profit for sole traders and partnerships as an acceptable source of income for affordability purposes.