Hints & Tips - Keying Mortgage Commitments
If your client has any mortgage commitments you will be asked if this is to be 'repaid on completion?'
- If the answer is 'YES' no further action is required
- If the answer is 'NO' and this property is to be rented please key the rental income under the 'other income' section as 'investment income'
If this is a joint mortgage the 'investment income' needs to be split 50/50 between each applicant
Please Note: If you are keying a Buy-to-Let case the above procedure does not apply.
