Woolwich using annual bonuses to offer larger buy-to-let mortgages

Aaron Strutt Image

Woolwich for Intermediaries (the broker lending arm of Barclays) is taking annual bonuses into consideration as part of its buy-to-let affordability calculations.

Earlier this year the bank amended its criteria to help wealthier borrowers with more deposable income to secure a larger buy-to-let mortgage.

To qualify, sole applicants will need a gross income of at least £75,000 (excluding the annual bonus).

For joint applications, one applicant must have a gross income of at least £75,000. Or, a joint gross income of at least £100,000 excluding the annual bonus.

Aaron Strutt, product manager at Trinity Financial, says: “Woolwich is one of the few lenders willing to take personal income into consideration to offer larger buy-to-let mortgages. This is useful if you are struggling to secure a large enough mortgage because the rental income is tight.”

For help to secure a Barclays buy-to-let mortgage, call Trinity 020 7016 0790.

Get Started

Get started today

Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.

Google Reviews
Trustpilot
Book a Consultation Talk to an Expert
As seen in
Sunday Times Telegraph Financial Times BBC News The Express The Times