Mortgages

We base our decision on how much we'll lend on your gross annual income:

For a single mortgage

• we'll lend you 4.25 x your gross annual income

For a joint mortgage

• with a combined income, we'll lend you 3.75 x your joint gross annual income
• where one of you earns much more, we'll lend 4.25 x the higher gross income and 1 x the lower gross annual income

For 3 or 4 customers

• we'll lend 2 x the combined gross annual income. Please note our online mortgage application can only process up to a maximum of 2 applicants.

Depending on your circumstances we may be willing to lend you a different amount. If you want to borrow a higher amount please contact us.

Also, we can supply an online mortgage term up to your retirement age. If you wish to extend your mortgage beyond your retirement age you will need to speak to an advisor.

To contact us

• either visit your local branch
• or call us free on 0800 778888

Lines are open 8am-8pm Monday to Friday and 9am-1pm Saturday. Telephone calls may be recorded and/or monitored. Calls from landline phones are free however mobile providers may charge.

How do we define income?

We include:

• your basic gross salary;
• 50% of contractual additional payments including commission, overtime and bonuses (100% if the payment is guaranteed by the employer). Where over 50% of the customers earning is commission, income can be based on an average of the last 3 years earnings providing that these are constant or rising. If the earnings increase by more than 15% year on year then they should be capped at 15%;
• income from permanent secondary jobs providing you've been in the job for more than 12 months;
• 75% of income from interest or UK listed company dividends;
• piece work - annual earnings, again, providing you've a 12 month record in the job.

Self Employed?

If you're self-employed, we ask for three years' accounts. Income is defined in 2 ways based on the following groups of applicants:

Sole Trader / Partner / Sub-contractor - income is based on the last year's net profit

Director - Private Ltd. Co. or Public Ltd. Co. with shares of 25% or more - income is based on director's salary/fees, plus dividends actually paid.

Affordability

As part of the decision process, we'll calculate an affordability index which assesses whether you can meet repayments. It takes into account your credit commitments along with the new mortgage commitment.

Deposit

We ask you for at least a 10% deposit; so for a £100,000 house, you'll need £10,000.