Investment Banking Director Secures £990k Mortgage on £1.1m Purchase Using Multi-Year Bonus History
An investment banker used a structured assessment of multi-year bonus income to secure a high-LTV mortgage, allowing a London purchase to proceed while retaining capital for planned property works.
Client Snapshot
Profession: Investment banker, Director (M&A)
Location: London (Farringdon)
Property Type: Mansion block apartment
Purchase Price: £1,100,000
Mortgage Amount: £990,000
Loan-to-Value: 90%
Income Structure:
£180,000 base salary
Bonus history of £220,000 and £165,000
Key Considerations: Limited deposit due to planned refurbishment costs
Context
The client was purchasing a flat in a Farringdon mansion block as a long-term London base. As a single buyer, the priority was to secure the right property while retaining sufficient liquidity to fund post-purchase works, rather than tying up additional capital in the deposit.
Total income was strong but heavily bonus-led, requiring the mortgage to be structured in a way that reflected sustainable earnings rather than headline base salary alone.
The Challenge
The case involved several overlapping constraints:
Borrowing at 90% loan-to-value at a relatively high loan size
Income heavily weighted toward annual bonus
Limited deposit available due to planned property works
Many lenders apply strict caps to bonus income or limit how it is averaged, particularly at higher LTVs. Others restrict maximum borrowing where bonuses materially exceed base salary.
In this case, only a small number of lenders were willing to consider both the required LTV and a meaningful proportion of bonus income, making lender selection critical.
Lender Strategy
Lenders were assessed based on their appetite for high-LTV lending and their treatment of bonus income for senior investment banking roles.
Affordability was structured using a multi-year bonus averaging approach, drawing on historic bonus evidence to demonstrate sustainability rather than relying on a single peak year. This allowed income to be presented in a way that aligned with lender policy while reflecting the client’s established earnings profile.
Several lenders were ruled out early due to restrictive bonus caps or lower maximum LTV limits at this loan size. A lender with a clear framework for senior bankers and multi-year bonus assessment was selected, allowing the application to proceed without requiring additional deposit.
What We Can Do for You
Structure bonus income using lender-appropriate averaging methods
Navigate high-LTV lending for senior finance professionals
Balance deposit requirements with post-purchase liquidity needs
Package bonus-led applications to minimise underwriting friction
The Result
A mortgage of £990,000 was secured at 90% loan-to-value, supporting the £1.1m purchase.
The structure allowed the client to proceed with the purchase while retaining capital for refurbishment works, with affordability assessed using sustainable multi-year bonus income rather than base salary alone.
Why This Matters for Similar Clients
Senior bankers often assume that high-LTV borrowing will require a large deposit or conservative income treatment. In practice, outcomes depend far more on how bonus history is assessed and whether lender policy aligns with the applicant’s role and income profile.
Where bonus income can be evidenced consistently, it does not need to be overly discounted — even at higher LTVs.
Request your fee free mortgage consultation today. No obligation, just sound advice.
FAQs
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Yes, though approaches vary. Some lenders use multi-year averaging, while others apply caps or discounts.
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In limited cases, yes — subject to loan size, income structure, and lender policy.
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Averaging can demonstrate sustainability and reduce reliance on a single strong year.
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In some cases, yes — provided affordability and lender criteria are met.
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21 Apr - Written By David Walsh
YOUR HOME MAY BE REPOSESSED IF YOU DON’T KEEP UP REPAYMENTS ON YOUR MORTGAGE
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