Case Study: First-Time Buyer Uses Commission to Borrow 5.5x Income
DIRECTOR AND MORTGAGE ADVISER
Overview
Our client, a first-time buyer working in media sales, was purchasing a property on his own. He had only been in his role for a year and was earning a relatively modest basic salary. However, his income was heavily commission-based, including both monthly and quarterly payments. With limited time to save, he had a 10% deposit made up of a 5% personal contribution and a 5% gift from his parents.
The Challenge
Most lenders were reluctant to offer higher borrowing based on such a short income history. Many require one to two years of commission evidence or rely on annual P60 figures, which would significantly understate his true earning potential — especially since the early part of his year involved ramping up a pipeline. He needed a lender who would recognise the full value of his recent commission track record and lend enough to secure his chosen property.
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Our Solution
We identified a lender willing to assess income based on a recent three-month average, which included one of his large quarterly commission payments. This approach better reflected his ongoing income and enabled him to borrow 5.5 times his earnings. We also structured the loan over 40 years to keep monthly payments manageable, giving flexibility in lower-commission months. He set up a standing order to make regular overpayments, accelerating loan repayment while staying within the product's allowance.
The Outcome
We secured a 90% loan-to-value mortgage on a £670,000 property using the full strength of his recent commissions. He moved in with a repayment plan tailored to his income structure — balancing short-term affordability with long-term efficiency.
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What We Can Do for You
If you earn through commission or bonuses and have limited track history, don’t assume you’re stuck. We know which lenders will use recent earnings rather than annual averages — and how to present your case to borrow more, sooner. With the right advice, your income can work harder for you.
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APPROVED BY THE OPENWORK PARTNERSHIP ON 27/06/2025