Income booster FAQs

What is the Ejector Seat?

The Ejector Seat is a feature of our income booster proposition that lets a booster support a buyer's affordability without needing to be on the mortgage for its full term. Think JBSP – but we can lend beyond the booster’s 85th birthday.

The income booster is assessed as leaving the mortgage at their 85th birthday, and the loan is stress-tested to confirm the owner(s) can sustain it, in their own right, from that point to their retirement. If there’s more than one booster, they’ll all be removed at the oldest booster’s 85th birthday.

This is a key differentiator for Gen H. Where most lenders would cap the term based on the oldest applicant's age, we can offer significantly longer terms by planning for the booster's exit up front.

How does affordability work?

The system runs two connected affordability checks at the point of application:

• Owner(s) + booster(s) together: can they collectively afford the stressed repayments over the proposed term?
• Owner(s) alone, post-booster(s): Would the remaining loan balance be affordable for the owner(s) on their own if they extended the term to retirement?

Two tests apply at the point the booster(s) would be removed from the mortgage:

• Loan to Income (LTI): The remaining balance must be no more than 4.49x the owner's gross income
• The stressed monthly repayment: Must be within the owner's disposable income based on a term running from the exit point to the owner's retirement.

We don’t assume any income growth – the assessment is based entirely on verified income at the point of application.

What happens when the booster is removed from the mortgage?

The booster's removal is set out as a special condition in the mortgage offer and is highlighted during the Independent Legal Advice (ILA) process, which all boosters must undertake, so everyone understands the structure of the mortgage at the outset.

If the owner's circumstances haven't materially changed at the booster’s 85th birthday, a term extension can be applied under MCOB 11.6.3 without requiring a new full affordability assessment.

If the income booster wishes to be removed before the first booster reaches age 85, this is handled via a standard internal remortgage process with a full re-assessment by our underwriters.

I’ve added a booster – why is the system telling me I need to lower the term?

The Ejector Seat does not always allow you to extend the mortgage term up to 40 years – there are criteria that need to be met.

The Ejector Seat introduces a second affordability constraint that does not exist on a standard application: the loan balance at the point the booster exits must be affordable for the owner(s) alone. If the proposed term is too long, the outstanding balance at the point of exit may be too large for the owner(s) to sustain on their own income, failing either the 4.49x LTI check or the stressed repayment test.

Shortening the term increases the repayments made prior to the exit point, reducing the remaining balance to a level the owner(s) can manage independently. In short, the Ejector Seat expands what is achievable compared to an application without a booster, and compared to other lenders who automatically limit the term based on the booster’s age, but the owner(s)' individual affordability is still the limiting factor.

If they want to, income boosters can contribute to the monthly payments.

This contribution could lower the split of the monthly payments the owners have to pay, potentially increasing their affordability and borrowing potential.

If there’s no home agreement in place, we will assume that all amounts contributed by the booster to the monthly mortgage payments will be gifted. If the clients want to set up a declaration of trust or a loan agreement, they should speak to their own lawyer and have the appropriate documents drawn up before any contributions are made.

Income boosters are assessed like owners, which means we accept the same income types for both owners and income boosters. They’ll need to evidence regular and sustainable income in accordance with our criteria and pass our affordability checks.

If boosters are planning on retiring or have retired, they’ll need to show proof of pension payments or other income. You can learn more on our criteria centre.

There can be a maximum of 6 people on a mortgage, and a maximum of 4 of those people can be owners. This is because a maximum of 4 people can be registered on the property deeds at the Land Registry as proprietors.

Within that parameter, the ratio can change. Your client could have one owner and 5 income boosters, or 4 owners and 2 boosters, 2 owners and 1 income booster – whatever works for their circumstances.

We can only accept a maximum of 2 income boosters per application in Scotland.

Yes. Income boosters are borrowers, just like owners – they’re subject to all of the same eligibility and affordability check as owners are, and they’re liable for the full value of the mortgage if the owners fail to pay.

As long as the mortgage payments are in good standing, income boosters don’t have to contribute at all if they don’t want to.

Yes. If you have a client going through a breakup or divorce, an income or deposit booster could help them afford their home on their own after removing their spouse from the mortgage.

Remortgaging with an income booster could help boost their affordability. Remortgaging with a deposit booster could help bridge the equity difference. A deposit booster could also help bring down their LTV, letting them access more borrowing.

Up to 80% LTV friends and all family can act as income boosters.

Above 80% LTV only close relatives can act as income boosters. A “close relative” is defined as:

• Parents (including step-parents & in-laws)
• Children
• Grandparents (including in-laws)
• Siblings (including half-siblings)
• Uncles and aunts - siblings of parents or spouse's parents only
• Nieces and nephews

When an owner and an income booster get a mortgage together, we calculate if, in the future, the owner will be able to afford the mortgage on their own. We call this our “ejector seat” calculation.

If the owner can afford the mortgage on their own, they’re able to remove their income booster at that point in the future with a remortgage.

The owner will need to pass our affordability checks at that point.

Income boosters are assessed just like owners. They’ll need to pass our affordability and eligibility assessments, including our credit checks.

Boosters can’t be added to a mortgage with an active Help to Buy loan. But if your client wants to pay off their Help to Buy loan, remortgaging with a capital raise up to 90% LTV could help them do it.