Getting a Mortgage with Bonus or Commission Income: What You Need to Know
Variable Income Shouldn’t Hold You Back
For many professionals in sectors such as sales, finance, and consultancy, bonuses and commissions form a regular and meaningful part of overall earnings. However, when it comes to mortgage applications, variable income is often viewed with more caution by lenders than basic salary alone.
The good news is that securing a mortgage using bonus or commission income is entirely possible. The key lies in understanding how different lenders assess it, and how to present your earnings in a way that supports your application.
How Lenders View Bonus and Commission Income
Every lender has its own policy when it comes to variable earnings. Some will include regular bonus or commission payments as part of your overall income, particularly if those payments have been consistent over the last couple of years. Others may apply more caution, choosing to average your bonus income over a longer period or discount it slightly to account for potential fluctuations.
In practice, this means that while one lender may be happy to lend based on your full earnings, another might offer a lower loan amount based on the same figures. Knowing which lenders are open to considering bonus or commission income—and how they calculate affordability—can make a major difference to your borrowing power.
The Importance of Strong Documentation
To make the most of your variable income, clear and consistent documentation is essential. Most lenders will ask for recent payslips showing bonus or commission payments, as well as P60s to confirm total annual income across previous years. In some cases, they may also request written confirmation from your employer to confirm the nature and frequency of these earnings.
The more reliable your bonus history appears, the more confident a lender will be in counting it toward your mortgage application.
How Altura Can Help
If bonuses or commissions make up part of your income, there is no reason to settle for a reduced mortgage offer. At Altura Mortgage Finance, we regularly work with clients who have a combination of salary and variable income. We understand how to present your case to lenders in the strongest possible way and know which providers are comfortable with more complex income structures.
Whether you are buying your first home, upsizing, or remortgaging, we can help you access the lending options that reflect your true earning potential.
