City-based wealth manager Route Group has teamed up with Investec Private Bank to launch a new “bonus mortgage”, designed specifically for high-earners reliant on bonus income. According to Route Group, individuals with bonus-reliant income often face cash-flow difficulties as their monthly income bears no correlation with their annualised pay. The new mortgage service will match a client’s mortgage payments to their pattern of earnings. Richard Roberts, mortgage consultant at Route, said: “Mortgage lenders expect their customers to set aside 12 equal monthly payments per year from their earnings towards their mortgage payments, but the vast majority of people end up borrowing on their credit card or taking out unsecured debt on the assumption that they will receive a bonus. This new bonus offering ensures the client’s payments are manageable and their cash-flow well balanced – putting them back in control of their finances.” The bonus mortgage offering is targeted at those earning sustainable earnings of £250,000 ($500,000) plus, with a proportion of their salary, multiples of four and five times, being paid as a bonus. Wayne Preston of Investec Private Bank said: “Our bonus mortgage is just one of a number of innovative offerings available to high income and high net worth clients with more complex financial requirements. Our mortgages are custom built for each client with innovative features such as multi-currency capabilities. We believe this bonus offering will add a further dimension.”