Income

Applicant 1
Guaranteed Gross Annual Income

Other Gross Regular Annual Income

Total Gross Income

OR
Net Monthly Income From Payslips

Net Monthly Income

Total Income

Household Code

Applicant 2

###

B
C
D
E
F
G

1 Adult
2 Adults
1 Adult 1 Child
1 Adult 2 Children
2 Adults 1 Children
2 Adults 2 Children
2 Adults 3 Children

Expenditure (Monthly)
Credit Commitments

Expenditure From Credit Check / App

Applicant 1

Credit Card / Store Card Monthly Payments *

Loan Repayments

Other Standing Orders & Direct Debits

Maintenance / CSA Payments

Shared Ownership Rent/Shared Equity Loan

Cost of Repayment Strategy (Interest Only)

Sub Total

Expenditure From Budget Planner

Committed Expenditure
Utilities (Gas, Water, Electricity)

Telephone

Council Tax

Buildings & Contents Insurance Premiums

Nursery/School/University Fees

Sub Total

Personal Expenditure
Housekeeping (Food etc)

Alcohol/Cigarettes

Clothing/Footwear

Car Tax / MOT / Insurance / Petrol / Travel

Life Assurance Premiums

Regular Savings & Pensions

Recreation (Entertainment / Holidays)

Any Other Expenses

Sub Total

Total Expenditure

re From Credit Check / App

Expenditure Used

Applicant 2
0

ure From Budget Planner

*Use 4% of total balances unles

Expenditure Used
270
40
0
0
0
310

120
39
55
158
11
0
131
0
515

825

Use 4% of total balances unless borrower declares higher monthly payment

ONS
270.40

39.87

120.47

39.43

54.60

158.17

11.27

130.87

Results
Mortgage
Total Loan
Current SVR
Term in Years
If Fixed, is the rate fixed for 5 years or more - Enter Y or N
If Fixed for 5 years or more enter the Initial Rate
Stressed Interest Rate
Is the loan Capital & Interest or Interest Only - Input C or I

Stressed Monthly Payment

Mortgage Payment as % of Disp Income
% Affordability Result
Remaining Monthly Income
Remaining Monthly Income Result
Income Multiplier Test

% Affordability Result
100,000.00

PASS
REFER
DECLINE

4.99
30
N
3.00
6.99

Remaining Monthly Inco

*Household Expenditure Test

Affordability Results
664.63

PASS

#DIV/0!
FAIL

#DIV/0!
-1,489.70
DECLINE
#DIV/0!

Sole

% Affordability Result
Equal to or less than 45%
46% - 55% (Exception may be excercised)
Greater than 55%

emaining Monthly Income Result*

Household Expenditure Test

The borrower has enough income to cover the

mortgage payment, financial commitments and their
household expenditure
The borrower does not have enough income to cover
the mortgage, their commitments and their
household expenditure

Help - Income Tab

Guaranteed Gross Annual Income
Other Gross Regular Annual Income
Total Gross Income
Net Monthly Income From Payslips
Net Monthly Income
Total Income
Household Code

Input the annual gross income for the applicant. This m

Input the annual gross income for the applicant that th
This field will calculate the total gross income that can
Input any salary in which the net monthly figure can b
This field will confirm the amount of net monthly salar
This field will calculate the total income that can be us
Input the Household Code for the table that represent

Help - Expenditure Tab - All commitments should be entered as monthly

Credit Commitments
Input
Input
Input
Input
Input
Input

4% of total credit/store card balances from the c

the monthly amount of any secured or unsecure
the monthly amount of any regular payments fro
the amount of any maintenance or CSA paymen
the amount of rent or interest payments due if t
the monthly cost of any repayment strategy tha

Input
Input
Input
Input
Input

the
the
the
the
the

total
total
total
total
total

amount of the Gas, Water and Electricit

monthly amount of declared expenditu
monthly amount of declared expenditu
monthly amount of declared expenditu
monthly amount of declared expenditu

Housekeeping (Food etc)

Alcohol/Cigarettes
Clothing/Footwear
Car Tax / MOT / Insurance / Petrol / Travel
Life Assurance Premiums
Regular Savings & Pensions
Recreation (Entertainment / Holidays)
Any Other Expenses

Input
Input
Input
Input
Input
Input
Input
Input

the
the
the
the
the
the
the
the

total
total
total
total
total
total
total
total

monthly
monthly
monthly
monthly
monthly
monthly
monthly
monthly

Total Expenditure

This field will calculate the applicant's declared expen

Credit Card / Store Card Monthly Payments *

Loan Repayments
Other Standing Orders & Direct Debits
Maintenance / CSA Payments
Shared Ownership Rent/Shared Equity Loan
Cost of Repayment Vehicle (Interest Only)

Committed Expenditure
Utilities (Gas, Water, Electricity)
Telephone
Council Tax
Buildings & Contents Insurance Premiums
Nursery/School/University Fees

Personal Expenditure
amount
amount
amount
amount
amount
amount
amount
amount

of
of
of
of
of
of
of
of

declared
declared
declared
declared
declared
declared
declared
declared

expenditu
expenditu
expenditu
expenditu
expenditu
expenditu
expenditu
expenditu

Help - Results Tab

Total Loan

Input the amount the applicants wish to borrow.

Current SVR
Term in Years

The Society's Standard Variable Rate.

Input the term of the mortgage.
Input 'Y' if the borrower's mortgage product is a fixed
Fixed for 5 years or more - Enter Y or N
If Fixed for 5 years or more enter the Initial RaIf the mortgage product has a fixed rate for five or mo
Stressed Interest Rate
The Society's Standard Variable Rate plus 2%.
Capital & Interest or Interest Only - Input C or I nput 'C' if the mortgage is to be conducted on a capit
Stressed Monthly Payment
Mortgage Payment as % of Disp Income
% Affordability Result

Remaining Monthly Income

Remaining Monthly Income Result
Income Multiplier Test

This field will display the stressed monthly mortgage p

The stressed mortgage payment as a percentage of th
0% - 45% = Pass
46% - 55% = Refer, underwriter descretion or an exce
56% - 100% = Decline
The net monthly income(s) minus financial commitme
If the remaining monthly income is a postivie figure =
If the remaining monthly income is a negative figure =
The loan amount divided by the total gross income mi

the applicant. This may include overtime, commission, bonuses or benefits which can be used in line with our L
the applicant that they earn in additional to their normal salary. This may be from a second job or taxable pens
ross income that can be used for the applicant.
monthly figure can be used. This may be a tax free pension or other benefit.
of net monthly salary that can be used for the applicant.
come that can be used for the applicant and will net down any gross salary entered.
table that represents the applicants family set-up. For households with more than three children, please use G.

red as monthly

balances from the credit check. If the borrower declares a higher monthly payment, use this.
secured or unsecured loans held by the borrower(s).
regular payments from bank statements for declared expenditure on the Budget Planner.
ance or CSA payments the borrower(s) has to make.
st payments due if the new property is shared ownership or shared equity.
ayment strategy that the borrower(s) contributes towards e.g. endowment, pension plan etc

Water and Electricity payments declared on the Budget Planner. If less than the ONS figure, the ONS data will b
declared expenditure from the Budget Planner. If less than the ONS figure, the ONS data will be used.
declared expenditure from the Budget Planner (FTBs may not be able to confirm this)
declared expenditure from the Budget Planner (FTBs may not be able to confirm this)
declared expenditure from the Budget Planner. May also be visible on wage slips as Childcare Voucher

declared
declared
declared
declared
declared
declared
declared
declared

expenditure
expenditure
expenditure
expenditure
expenditure
expenditure
expenditure
expenditure

from
from
from
from
from
from
from
from

the
the
the
the
the
the
the
the

Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget

Planner.
Planner.
Planner.
Planner.
Planner.
Planner.
Planner.
Planner.

If
If
If
If
If

less
less
less
less
less

than
than
than
than
than

the
the
the
the
the

ONS
ONS
ONS
ONS
ONS

figure,
figure,
figure,
figure,
figure,

the
the
the
the
the

ONS
ONS
ONS
ONS
ONS

data
data
data
data
data

will
will
will
will
will

be
be
be
be
be

If less than the ONS figure, the ONS data will be used.

ant's declared expenditure. If less than the ONS data, the ONS expenditure figure will be used.

wish to borrow.

used.
used.
used.
used.
used.

e product is a fixed term of five or more years

d rate for five or more years input the rate. This rate will be used for the affordability calculations.
ate plus 2%.
onducted on a capital and interest basis, or 'I' if to be conducted on an Interest Only basis.

monthly mortgage payment.

as a percentage of the net monthly income(s)

escretion or an exception may be required depending on other factors of the application

financial commitments, expenditure and the stressed monthly payment.

s a postivie figure = PASS
s a negative figure = DECLINE
otal gross income minus any financial commitments

be used in line with our Lending Policy.

cond job or taxable pension.

e children, please use G.

gure, the ONS data will be used.

ta will be used.

hildcare Voucher

ta
ta
ta
ta
ta

will
will
will
will
will

be
be
be
be
be

used.
used.
used.
used.
used.

ta will be used.

alculations.

How to Calculate Part and Part Affordability

1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
13)
14)
15)

16)

Input income information on the 'Income' tab as with all assessments

Input expenditure information on the 'Expenditure' tab as with all assessments
On the 'Results' screen input the Total Loan Amount that is to be assessed on a Capital
Input the Term in Years
Input 'C' for Capital and Interest
0.00
Note down the Stressed Monthly Payment
Note down the Remaining Monthly Income
0.00
Input the Total Loan Amount that is to be assessed on an Interest Only Basis
Input 'I' for Interest Only
Note down the Stressed Monthly Payment
0
Take away the Interest Only stressed payment from the Remaining Monthly Income prev
If the number is a positive, the part and part affordability has passed the Remaining Inco
Add the two stressed monthly payments together
0.00
Divide the two stressed monthly payments by the total net income
If the number is 45% of less, this is a pass
If the number is 46% - 55%, this is a refer
If the number is greater than 56%, this is a decline
Input the Total Loan Amount on the 'Results' screen to view the income multiples

assessments
ssessed on a Capital Repayment Basis

st Only Basis

Monthly Income previously captured

ed the Remaining Income Test

ome multiples

#DIV/0!