Packaging & criteria

Rental income

Where income from property represents an applicant’s primary source of income (i.e., where 50% or more of overall income is derived from rental properties), this will be treated as self-employment.

In cases where the rental income makes up less than 50% of the customer's total income, we will include the income as long as it can be evidenced clearly by the latest 3 months’ bank statements.

Key the full amount and we will weight it at 83%.

We will require the following for each of the rental properties:

  • Address of property
  • Outstanding mortgage balance
  • Total annual rental income
  • Total annual mortgage repayment

Where there are other associated costs relating to the property, such as management fees, they must also be declared or offset against the income.


Packaging guidance:

Under 50% of applicant's income:

  • Full property details as described above
  • Latest 3 months bank statements showing rental income

Over 50% of applicant' income: Please see self employed for document requirements