Three or four incomes accepted on mortgage application

Aaron Strutt Image

Trinity Financial has access to two mortgage lenders accepting up to four incomes on one mortgage application.

Most banks and building societies cap the maximum number of applicants at two, and they rarely take more than two incomes.

A relatively large building society and an international bank will take four separate salaries from four borrowers, providing all of the applicants plan to live in the property.

One of these lenders will accept bonus income, allowances, and second jobs when it calculates the maximum loan.

Aaron Strutt, product director at Trinity Financial, says: “If you are buying a property with three other people, your borrowing power increases significantly.

“If four applicants each earning £35,000 applied for a mortgage, they would potentially be able to borrow up to £630,000. This is on the condition they all have limited debts and credit commitments.”

Another building society will accept three incomes on a mortgage application and it offers larger mortgage loans. Once again, all applicants will need to live in the property.

For help to secure four incomes on one mortgage application, call Trinity Financial on 020 7016 0790.

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