From Friday 18 December, we can accept variable income (bonus, commission or overtime) in our affordability assessment.
For variable pay received annually, we need the most recent bonus payslip which must be dated 2 December 2020 or later plus the 2020 P60.
For variable pay received six monthly or quarterly, we will need the most recent bonus payslip which must be dated 2 December 2020 or later, plus the two most recent P60s.
We can accept compensation statements or bonus payslips instead of P60s, as long as they cover a two-year record.
For variable pay received monthly, we will need the most recent two months’ payslips, at least one of which must be dated 2 December 2020 or later.
If some variable income was received before 2 December and some was received after – we’ll still calculate it the same way.
Any questions? Speak to your dedicated Business Development Manager.The team at Clydesdale Bank
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Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 30 St Vincent Place, Glasgow G1 2HL.