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Tag: INCOME
income
Do bonus payments count as income for mortgage applications?
Yes, bonus payments can count as income when applying for a mortgage in the UK. However, how they are considered can vary between lenders. Here are the key points to understand: Factors Lenders Consider: Mortgage Types and Bonus Income: Practical Steps: Summary: Bonus payments can count as income for mortgage applications in the UK, but… Read more
What income is included in a lender’s affordability assessment
In the UK, when a lender assesses affordability for a mortgage or other loan, they typically consider various sources of income to determine the borrower’s ability to repay the loan. The income sources generally included in a lender’s affordability assessment can vary slightly depending on the lender and the type of loan, but they commonly… Read more
What is income protection and how does it work?
Income protection insurance is a type of policy designed to provide financial support if you are unable to work due to illness or injury. It ensures that you continue to receive a portion of your income while you recover and are unable to earn. Here’s a detailed look at income protection and how it works… Read more