Architects often earn a higher than average salary, which is very attractive to mortgage lenders. If you earn a higher salary, then you could be allowed to borrow up to 5 x your annual income. If you are interested in a higher multiple, then you need to know which lenders will be able to offer this to you. Through our many years of experience, we have a good working relationship with many lenders and can help you find the best deal for you. 

Income that can be used by an Architect

If you are employed as an Architect, lenders will want your most recent 3 payslips.  Everyone will accept a basic salary, but there are some that will take into consideration any bonus, overtime and commission if you receive it. You may need evidence of your recent P60, so it’s advisable to have that ready.   

If you are self-employed, then acceptable income varies by lender.  Some will use your salary + dividends, whereas others will take salary + net profit after tax.  There are even a select few that will take salary + net profit before tax, which really will increase your borrowing potential.

Lenders also have different acceptance of your trading history; at the very minimum you need 1 years accounts / tax returns, and if you have been operating for longer, they could take your latest year, although many prefer an average of the last 2 years.  

This is why speaking to an experienced and knowledgeable broker will really help your chances in being accepted for a mortgage.