Route Group, a wealth manager specialising in services for high-earning professionals, has teamed up with Investec Private Bank to launch a “bonus mortgage”. This has been designed specifically for high-earners reliant on bonus income and, subject to underwriting, will be able to take into account the shift towards equity-related reward. It works by matching mortgage payments to an individual pattern of earnings. According to Route, such individuals are often faced with cash-flow complications as their monthly income bears no relation to their annualised pay. Route estimates that between 70 to 90 per cent of its clients’ take-home pay is swallowed up by mortgage payments, school fees, travel costs and lifestyle expenses. The new bonus mortgage offering is targeted at individuals whose income is dominated by annual lump sum bonus payments and whose monthly mortgage payments are often disproportionately large, relative to their monthly salary. Richard Roberts, Route mortgage consultant, said: “These mid-range clients – who aren’t yet on the super-rich scale – need their monthly payment to be as low as possible. 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 new service will see a monthly mortgage payment of say £6,000 (around $12,000) reduced to £1,700 by paying a larger lump sum come bonus time. It is clear that many are expecting to get much of their bonus in shares this year, as bank losses hit bank profits together with a hard year ahead for the markets. We expect this kind of flexible financial management tool to prove very popular with City professionals.” The bonus mortgage offering is designed for those earning a sustainable £250,000 plus per annum with a proportion of their salary (multiples of four and five times) being paid as a bonus.