Looking to place a case with complex income?


Dr Kinsella is a GP who works with the NHS but is also a self-employed private consultant owning a small practice.   He is selling his existing home due to divorce, with most of the equity from the property going to his ex-wife.

Dr Kinsella was looking to purchase a new home worth £500,000 and had savings of approx. £100,000 which he would be able to use as a deposit.  However, after the divorce he was paying maintenance payments to his ex-wife for his 4 children, plus was also responsible for the ongoing care of the family pets. The various maintenance payments were subject to stipulations and gradually reduced as the children got older and his ex-wife found a home.

His broker struggled to find a lender who could help him get a mortgage due to his complex income made up of an NHS salary with allowances, ‘on-call’ payments of varying amounts, and an income from his private practice.  In addition, he did not take any dividends from his practice.

We were able to consider the case as we manually assess the applicant’s income and affordability and accepted both parts of Dr Kinsella’s income with his tax returns and payslips, acknowledging that he had the capacity to earn additional income from his private practice.

He had minimal credit commitments and we were content that he had managed to save £100k required for the deposit. He will receive a good pension through the NHS, and currently plans to retire aged 70 with the option of continuing his private work after this time.

The court order showed that the maintenance paid to his ex-wife would cease when she found a residential property and she was known to be actively looking. The maintenance paid for their 4 children would reduce gradually over the next 10 years as they grew up.

Dr Kinsella was delighted we were able to make him a mortgage offer and allow him to move on and start the next stage of his life.

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This case study is based on a real case but the names and some details have been changed and stock images have been used to protect confidentiality.




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