Teachers for Intermediaries (TFI) has announced it will now include up to 75% (previously 60%) of bonus payments within mortgage affordability calculations. The move is designed to aid high earning financial services borrowers for whom a large percentage of their remuneration package comes from an annual bonus.
TFI bonus acceptance criteria
- Annual or quarterly bonus with 2 years history (can be from more than one employer);
- Up to 75% of bonus considered, based on two year average;
- Considered on mortgages up to 80% LTV;
- Loan sizes up to £1.5m;
- Up to 5 times Loan to Income considered (basic + up to 75% bonus);
- Interest only solutions available
- Suitable for borrowers where total remuneration package exceeds £125k p.a.
