To help more of your clients get the loan amount they need Virgin Money allow clients to include personal income in the affordability test*. The rental income must cover 125% of the mortgage interest payment, calculated at a notional rate of 5.50%, with personal income being considered to cover the difference up to 145%.

Their handy Sales Aid has some examples showing when personal income will and won’t be used.

Please visit their website or contact your dedicated Business Development Manager with any queries and they will be happy to help.

* Personal income is defined as the customer’s net monthly income less any outgoings.