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Income Booster
What is a mortgage income booster?
What is a mortgage income booster?

Our income boosters help you afford more and make it easier to get on the property ladder. Learn more with our income booster video.

Written by John Cullen
Updated over a week ago

At Gen H, income boosters help you borrow enough to buy a home. They do this by going on the mortgage with you, even though they don't plan to live in the property.

In short

A Gen H income booster helps you borrow more by adding their income to the mortgage.

Everyone on the mortgage is equally responsible for it, but how the repayments are divided is up to you.

An income booster can be removed from the mortgage once you can afford the loan on your income alone.

A little more detail

To preserve a first-time buyer’s stamp duty status, an income booster is not on the property deeds, but they are on the mortgage.

Boosters can simply be on standby to help so long as the other borrowers are making monthly payments in full.

Boosters may choose to contribute regularly and, if they do, they can build up a stake in the property.

Please note, income boosters are required to complete Direct Debit details during the application process, whether they are contributing or not. You can read more about why here.

Who can be an income booster?

Family members can act as your income booster: parents (including step-parents), children (including step- children), grandparents, siblings (including half- siblings and step- siblings), aunts, uncles.

Please reach out if you have any questions around income booster eligibility.

For example

Hal can’t afford the home he wants.

Even though the monthly mortgage repayments would be less than what he currently pays in rent, he can't get the loan he needs on his income alone.

Adding his mum as an income booster means that he can buy sooner.

His mum will be on standby until Hal can afford the outstanding loan on his income alone.

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