Perhaps one of you has a straightforward PAYE salary, while the other works for a technology company where a significant proportion of their income comes from RSUs.
The good news is that receiving RSUs doesn't stop you from getting a joint mortgage. However, it can influence how your income is assessed by UK mortgage lenders, which is why it's important to understand your options before you apply.
Can You Get a Joint Mortgage If One Partner Receives RSUs?
In most cases, yes.
UK mortgage lenders understand that couples don't always have identical income structures. It's increasingly common for one partner to receive a traditional salary while the other has a remuneration package that includes bonuses, RSUs or other share-based incentives.
For example, you might be:
- A software engineer who receives RSUs while your partner works in the public sector.
- Working for a global technology company where part of your annual remuneration comes from share awards, while your partner is paid entirely through PAYE.
- Receiving a combination of salary, bonus and RSUs while your partner has a fixed annual salary.
Your mortgage application should reflect your combined financial position, not simply whether your incomes are structured in the same way.
What Are RSUs and Why Do They Matter?
Restricted Stock Units (RSUs) are a form of share-based compensation commonly offered by technology companies and other large organisations.
Rather than receiving all of your earnings as salary, you may receive company shares that vest over time, forming an important part of your overall remuneration package. From your perspective, those RSUs are part of your earnings.
However, not every UK mortgage lender assesses share-based compensation in the same way. Some lenders may be willing to take vested RSUs into account when assessing affordability, while others may focus primarily on guaranteed salary. This difference is one of the main reasons why finding the right lender is so important.
How Do UK Mortgage Lenders Assess a Joint Mortgage?
When you apply for a joint mortgage, lenders look at your overall financial circumstances rather than assessing each applicant in isolation. This usually includes factors such as:
- Your combined household income.
- How each applicant is paid.
- Employment stability.
- Existing financial commitments.
- Your deposit.
- Overall affordability.
If one partner receives RSUs and the other has a traditional PAYE salary, that combination can often work well. The key is ensuring your application is presented to a lender whose criteria suit your income structure.
Does a PAYE Salary Strengthen the Application?
A straightforward PAYE salary can provide lenders with predictable, guaranteed income. However, that doesn't mean your RSUs should be ignored.
If share awards form a consistent and significant part of your remuneration, they may help demonstrate your overall earning capacity, depending on the lender's criteria.
This is why a specialist RSU mortgage broker can make such a difference. Rather than focusing solely on your basic salary, they can help identify UK lenders that take a broader view of your income.
What Documents Will You Need?
Preparing your paperwork in advance can help your mortgage application progress more smoothly.
Your broker may ask for documents such as:
- Recent payslips.
- P60s.
- Your employment contract.
- RSU award statements.
- Vesting schedules.
- Evidence of previously vested RSUs.
- Recent bank statements.
Having these documents ready can help provide a clearer picture of how you're paid.
Common Myths About RSU Mortgages
If you've searched online, you may have come across conflicting information about RSU mortgages.
Let's clear up a few common misconceptions.
"UK lenders don't accept RSUs."
This isn't true.
Many UK mortgage lenders will consider RSUs, but each lender has its own lending criteria. Some are more experienced in assessing share-based remuneration than others.
"The PAYE applicant should apply on their own."
Not necessarily. While this may be suitable in some circumstances, it isn't automatically the best option.
If your RSUs form an established part of your overall income, including both applicants could provide a stronger application.
The right approach depends on your individual circumstances.
Why Choosing the Right UK Mortgage Lender Matters
One of the biggest mistakes couples can make is assuming every lender assesses income in exactly the same way. They don't.
Some lenders are more comfortable assessing applicants whose remuneration includes:
- RSUs.
- Share awards.
- Annual bonuses.
- Other forms of variable income.
Choosing the wrong lender could mean your income isn't fully recognised.
Working with a broker who specialises in RSU mortgages helps ensure you're matched with lenders whose criteria better reflect the way you're paid.
How Limitless Finance Can Help
At Limitless Finance, we specialise in helping UK professionals whose income is more complex than a standard payslip.
If you receive RSUs as part of your remuneration package, we understand that your earnings may not fit the traditional mortgage model.
We'll take the time to understand your income, explain how different UK mortgage lenders are likely to assess your circumstances and help you find a mortgage solution that's tailored to the way you earn.
Planning to Buy Together?
Receiving RSUs doesn't prevent you from buying a home with your partner.
The most important step is understanding how your income is likely to be assessed before submitting a mortgage application.
If you're looking for expert advice on an RSU mortgage or would like to discuss your joint mortgage options, the team at Limitless Finance is here to help you navigate the process with confidence.
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