Did you know that at Metro Bank we have a range of straightforward solutions for what can be regarded as complex income?
Please note – our broker helpdesk will be closing at 3pm on Tuesday 5 March for training purposes.
Meet Simone & Duncan
Simone and Duncan sought a new family home. Simone is a limited company Director and owns two thriving businesses where she draws minimal dividends. Simone also has a SIPP which she doesn’t currently draw from. Duncan is employed full time and receives a large annual bonus.
And how we can help…
By applying our flexible criteria to Simone & Duncan’s circumstances, we were able to use the profit before tax, plus Directors remuneration averaged over the last two years in full, for both businesses. As she is 56 and has £255,000 invested in her SIPP we were also able to use 5% of this as income, even though she is not currently drawing from it. We also used 60% of Duncan’s bonus by using the total showing on the P60 minus the basic salary.
We were able to help Simone and Duncan buy their family home, using incomes that many other lenders would not use or not use in full.
Criteria highlights
- Self Employed – Profit before taxation plus Directors remuneration
- 60% of annual Bonus/Commission/Overtime
- Contractor friendly
- Non earned income accepted (Profit from UK land & Property, Investments, SIPPs/Drawdown Pensions)
- 2nd Jobs – income acceptable with a 6 month track record
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.
Contact us
Get in touch with your local Business Development Manager; they would love to hear from you. Find your nearest BDM here.
Or call our Broker helpdesk on 020 3427 1019.