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walesonline.co.uk 13 Sep, 2021 14:00 am

Halifax change mortgage lending rules for buyers who get bonuses

Halifax change mortgage lending rules for buyers who get bonuses
The move will be attractive to those whose additional income fluctuates, to include bonuses and commission payments

The move comes as other mortgage lenders relaxed strict criteria for mortgage lending in a bid to attract borrowers with a different financial profile than the traditional mortgage customer.A borrower can usually borrow four to five times their salary, but mortgage lenders have different stances on what is classified as income.Some mortgage lenders include base salary and only half of the amount generated by commissions or bonuses, even if the additional money forms a significant part of the final salary.Follow Wales Online More On News all Most Read Most Recent Most Read Most Recent

News Halifax change mortgage lending rules for buyers who get bonuses The move will be attractive to those whose additional income fluctuates, to include bonuses and commission payments (Image: Joe Giddens/PA Wire) Invalid Email Something went wrong, please try again later.p We have more newsletters Show me See ourprivacy notice Halifax has relaxed lending rules to allow employees who get bonuses or commission to apply for mortgages with more ease.

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