More News
More News
Residential mortgages Buy-to-let mortgages Large mortgage loans Interest-only mortgages Professional mortgages Self-employed mortgages Private banks First-time buyers Remortgages Offset mortgages Bonus income mortgages Best buy mortgage rates Foreign income mortgage Equity release mortgages Older borrowers Large buy-to-let mortgages Bridging finance Life insurance and income protection policies Contractor mortgages Ex-pat mortgages Commercial mortgages Market-Matters Market Matters Archive Best-Buys Help to Buy Large loan remortgages Holiday let mortgages Help to Buy mortgage scheme Contractor mortgages Life assurance and protection
Show all
Show less

NatWest taking 50% of bonus income for mortgage purposes

Aaron Strutt Image

NatWest for Intermediaries has increased the amount of bonus income it takes into consideration for mortgage purposes following a review of its lending policy.

The bank will now take up to 50% of any annual or bi-annual bonus payments and this is up from the previously minimal amount of 25%. 

Aaron Strutt, product manager at Trinity Financial, says: “For annual discretionary bonuses NatWest will consider an average of the last two years (cash element only) and use 50% of it in their affordability calculations.

“If there has been a sharp decline in the latest year the mortgage underwriter may use 50% of the most recent year’s bonus, although they will not look to use deferred bonuses.”

Regular bonus payments

NatWest can accept up to 100% of regular bonus payments if they are paid monthly or quarterly, although this will be at the underwriter’s discretion.

The bank is likely to ask applicants for their latest P60s and six months payslips to show a track record of receiving the payments.

For help to secure a bonus income mortgage, call Trinity on 020 7016 0790.

As seen in
sunday times telegraph financial times bbc news the express the times
Get Started

Get started today

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

Book a Consultation Talk to an Expert