ONE SAVINGS BANK outline their approach to furlough income

I know that many brokers will have customers who’ve been placed on the furlough scheme, and may be concerned about how this will affect their suitability for mortgage applications.

As part of our ongoing commitment to supporting you during these unprecedented times, here’s how Kent Reliance for Intermediaries and Precise Mortgages can help residential and buy to let customers receiving furlough income.

   Residential criteria

  • Furlough income accepted – 80% of income to a maximum of £2,500, along with any evidenced employer top-up over and above this amount
  • For those on the Self Employed Income Support Scheme (SEIS), current income will be used for affordability purposes where evidenced
  • Bounce back loans and coronavirus business interruption loans aren’t acceptable as a source of deposit


  • Buy to let criteria
    • Where the landlord has income that’d unrelated to buy to let, and is in receipt of furlough / SEIS income, the application can be considered
    • Bounce back loans and coronavirus business interruption loans aren’t acceptable as a source of deposit
    • At this stage we continue not to accept applications requiring top slicing or the use of personal income

Please note there may be additional underwriting requirements. This information is embargoed until 2pm so please refrain from promoting until after this time. 

If you have any queries about furlough payments, or anything else related to an application, please don’t hesitate to contact one of our team.

For more information on current products and criteria, visit Kent Reliance for Intermediaries or Precise Mortgages.

Thank you for your continued support.

Roger Morris

Group Distribution Director, OneSavings Bank

OneSavings Bank plc