Hi,
I'm in the process of getting my mortgage in approval via a broker. We're trying BOI first to see what amounts they will allow. I'm wondering if BOI (and other banks) have any hard and fast rules regarding bonuses in todays climate. I've heard 20% of bonus, 50% of bonus, 100% of bonus if its been consistent across 3+ years etc. Has anyone had any recent drawdowns and what bonus considerations were taken into account.
It's funny, my company is already noting gains in thier profits due to COVID and our bonus pool outlook is better than any of the previous 3 years, so an increased bonus would be expected if the trend continues but a bank might disregard this
I'm in the process of getting my mortgage in approval via a broker. We're trying BOI first to see what amounts they will allow. I'm wondering if BOI (and other banks) have any hard and fast rules regarding bonuses in todays climate. I've heard 20% of bonus, 50% of bonus, 100% of bonus if its been consistent across 3+ years etc. Has anyone had any recent drawdowns and what bonus considerations were taken into account.
It's funny, my company is already noting gains in thier profits due to COVID and our bonus pool outlook is better than any of the previous 3 years, so an increased bonus would be expected if the trend continues but a bank might disregard this