Complex Income Mortgages
You’re unique so you need a lender that understands your situation.
If your income is complex (for example, made up from different elements) or your occupation is unique, choosing the right lender is usually more difficult.
Lenders need a clear idea of how your income is made up, how regularly received, who will pay it, how long it is expected to continue at the current amount and so on.
Kerr & Watson will take the time to understand your income to then approach the lender that’s best placed to help you.
How We Help with Complex Income Mortgages
At Kerr & Watson, we help customers with multiple or unusual income sources find suitable mortgages. Different lenders assess income in different ways, which can significantly affect how much you can borrow.
✓ Multiple income sources – Combining employment, self-employment, rental or investment income.
✓ Bonuses, overtime and commission – Identifying lenders that consider variable earnings alongside basic salary.
✓ Specialist occupations – Helping contractors, freelancers and professionals with irregular or less conventional income structures.
✓ Investment and overseas income – Exploring lenders that consider pensions, trust income, investments or earnings in foreign currencies.
How Do Mortgage Lenders Assess Complex Income?
Mortgage lenders use different methods to calculate affordability when your earnings come from several sources.
For example, some lenders may include all of your regular bonuses or commission, while others use an average or only accept a proportion. Rental income, dividends and investment earnings can also be treated differently depending on the lender.
We compare these approaches to identify lenders whose affordability assessments best reflect your income and circumstances.
Can You Combine Multiple Income Sources for a Mortgage?
Many mortgage lenders allow applicants to combine different sources of income, although the types they accept and the amount they include can vary.
For example, you may receive a salary alongside rental income, earn money from a second job or have both employed and self-employed earnings. Lenders will consider how long you have received each income source and whether it is likely to continue.
We review your income and identify lenders that may consider your combined earnings when assessing affordability.
How Much Can You Borrow with Complex Income?
The amount you can borrow depends on which income sources a lender accepts, how they calculate your earnings and your existing financial commitments.
Some lenders may use your full regular income, while others average variable earnings or exclude certain income sources altogether. This means the borrowing amount offered can vary considerably between lenders, even when your circumstances remain the same.
We compare lender affordability assessments to establish how much you may be able to borrow before submitting a mortgage application.
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Your Mortgage In 3 Easy Steps…
Conversation
Send us an enquiry to arrange a call to speak to a mortgage adviser about your circumstances, borrowing requirements and property plans.
Alternatively give us a call on 01252 224620 or email us on info@kerrandwatson.co.uk.
Research
We will use the information you’ve provided to research suitable mortgage options across the market and explain our recommendation to you.
If you need an Agreement in Principle, we can also arrange this as part of the process.
Application
Once you’re ready to proceed, we will submit the full mortgage application and supporting documents to the lender.
We will liaise with the lender and its underwriters, respond to any additional requirements and keep you updated until the mortgage offer is issued and through to completion.
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