Here is the latest update from Nationwide Building Society. For full details see their latest product information here. Access these product via our direct to lender mortgage club and get the benefits of payment on completion.
Enhanced criteria- Bonus, Overtime and Commission | Fixed Term Contracts
Fixed term contract and bonus, overtime and commission criteria enhancements
We’re pleased to let you know that from tomorrow, Thursday 2 December, we’re enhancing our affordability criteria for both fixed term contract income and bonus, overtime and commission.
Bonus, Overtime and Commission
For all applications where bonus, overtime and commission is required, the average amount of any frequency will now be applied as part of your client’s mortgage affordability calculation.
Fixed Term Contract
We’re making some enhancements to our fixed term contractor proposition which have now been reflected in our affordability calculator.
Please visit our income criteria page for further details.