How Banks Assess Bonus Income
When applying for a home loan, banks usually assess bonus income over a two-year financial period to ensure consistency. This helps lenders confirm the income is ongoing and reliable.
Some lenders may consider just 12 months of bonus income, but policies vary. This is especially important if you’ve recently changed jobs or only received one bonus payment so far.
Understanding your lender’s policy can make a significant difference to your borrowing capacity.
