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Why do Income Boosters need to set up Direct Debits?
Why do Income Boosters need to set up Direct Debits?

We require direct debit mandates from income boosters to provide ease and flexibility should they want or need to contribute.

Written by Tanisha Anand
Updated over a week ago

Income boosters are required to complete Direct Debit mandate forms during the application process.

This is to provide ease and flexibility, should the income booster wish to make contributions. This can be managed via your Gen H dashboard. If your income booster does decide to contribute monthly, they can build up an interest in the property.

While income boosters are not owners, nor do they have to contribute monthly, they are liable for ensuring the mortgage is paid. If this is not paid by the owner, the income booster would be required to make payment. This is another reason for the Direct Debit mandate being required.

We would not take any money from an income booster without first notifying them.

For more information, reach out to us via live chat or email.

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