Complex income - Professionals with Locum
The borrowers
Layla is 45 and lives with her husband and her two children. She has worked as an NHS doctor for 20 years. For the past year she has also picked up regular locum work.
They are looking to buy their next family home.
- She earns £40,000 as a basic salary
- Layla has 1 years self-employed Locum income of £50,000
- Layla has also owned a Buy To Let flat for just over 1 year which brings in £1,000 rental income per month (£500 per month after financial costs)
How we can help
At Foundation we could use the £40,000 basic PLUS 100% of the £50,000 self-employed income for affordability, giving the customer more borrowing. Where the customer also receives rental income on top of their PAYE earnings, we can use 100% of UK land and property income less any financial costs as shown on her latest SA302, in addition to her other incomes. This means the total income considerable for this client would be £96k p/a and as Layla is a Doctor she will also be eligible for our Professionals product range allowing her to borrow up to 6x her total combined income.
We love to talk a case through, why not call your Foundation Regional Area Manager today?
