A tech executive mortgage is a residential mortgage where the income is mostly equity. Half of a senior tech package is often vested RSUs, refresh grants and bonus paid in stock. The high street looks at the base salary and stops there. Specialist lenders read the package the way you do, and the borrowing capacity that comes back is materially different.
Fox Davidson arranges residential mortgages for tech executives across the UK from our office in Bristol. We have been doing this since 2013. Our work in this market spans senior engineers, directors, VPs and C-suite roles at public big-tech companies, scale-up unicorns and pre-IPO scale-ups. Below is how the package gets read in 2026, and how to put your case in front of the right lender.
Key facts
| Borrower profile | Senior engineers, directors, VPs, C-suite at tech employers |
| Income multiple | 4.5x to 6x |
| Vested RSU treatment | 80% to 100% with specialist lenders, 2 to 3 year history |
| Pre-IPO equity treatment | Excluded by most, recognised in selected HNW cases |
What is a tech executive mortgage and why does it need specialist treatment?
A tech executive mortgage is a residential mortgage assessed against a compensation package that the standard high street affordability calculator was not built for. A senior tech package in 2026 typically splits into base salary, target bonus, an initial RSU grant vesting over four years, and an annual refresh grant that itself vests over four years. By year three of tenure you can be vesting against three or four overlapping grants at the same time.
The high street picks up the base, perhaps half of one year’s bonus, and ignores the rest. A specialist lender takes a structured view of the whole package. Your stock plan statement becomes the primary income document. The payslip becomes the supporting document. That order is the right way round for someone whose total compensation is mostly equity.
This sits alongside our Goldman Sachs Mortgages and Investment Banker Mortgages pieces. The principles overlap. The lender appetite for tech-specific equity differs in detail.
How do lenders treat RSU income for mortgage purposes?
Three categories matter. Vested RSUs that have already paid out, vested RSUs that have been retained, and unvested RSUs.
Vested RSUs that paid out in cash and landed in your bank look like income to most lenders. Specialist lenders include them at 80% to 100% on a 2 to 3 year history. The high street treatment varies, with most lenders applying a discount to vesting that depends on stock price.
Vested RSUs you held rather than sold sit in a different category. They are an asset rather than an income stream, although they were income at the point of vesting. Lenders who take the structured view recognise the vesting event in the income calculation but expect supporting documentation showing the FMV at vest.
Unvested RSUs are the friction point. Most high street lenders ignore them entirely. A small group of specialist lenders, often those used to tech and finance applicants, will recognise unvested RSUs against a vesting schedule, sometimes with a 50% to 70% haircut to account for stock price risk.
How are stock refresh grants assessed?
The most useful measure for an executive with three or four overlapping grants is the rolling vesting schedule. Specialist lenders look at:
- The total fair market value of RSUs vesting in the next 12 months across all live grants
- The fair market value of RSUs vesting in the next 24 to 36 months
- The price stability of the underlying stock over the last 24 months
A senior at a large public tech company with three overlapping grants might have £180,000 to £400,000 of RSUs vesting in the next 12 months. Specialist lenders include this at 80% to 100%. The high street, broadly, does not.
Refresh grants are treated the same way as initial grants once they have started vesting. The first year of a brand new refresh grant carries no vesting history and is harder to include. The second and third years are usually clean. Your stock plan statement is the document that demonstrates the schedule.
What happens with single-stock concentration in unvested RSUs?
If your unvested RSUs sit in your employer’s stock, the lender treats your job risk and your stock risk as correlated. The same shock affects both. The haircut goes up. A specialist lender will typically apply a 50% to 70% treatment on unvested RSUs in concentrated single-stock cases, sometimes lower where the stock is volatile or the sector is under pressure.
The same numbers in a more diversified picture, where you sell at vest and rebalance into a multi-asset portfolio, are treated more favourably. Lenders distinguish between a borrower who runs concentrated exposure and one who actively diversifies. The diversification narrative supports a stronger LTI even where the gross income figures are the same.
What we have found over the last few years is that the borrowers who get the best outcomes have a clear policy on whether they sell at vest or hold. The policy itself is part of the income story. Underwriters appreciate the structure.
How are pre-IPO equity grants treated?
Pre-IPO equity is the friction point in tech compensation. Most lenders ignore it entirely. A small group of specialist HNW lenders will recognise pre-IPO grants in select cases, usually with a heavy discount and supporting documentation from the company.
The lender will look at:
- The most recent 409A or independent valuation
- The fundraise vintage and whether a tender offer or buyback has occurred
- The company’s revenue trajectory and burn position
- Your specific grant schedule and any liquidity conditions
ISOs and NSOs (incentive stock options and non-qualified stock options, terminology more common at US-headquartered employers) follow the same logic. Vested and exercised: treated as income. Vested and unexercised: typically excluded. Unvested: typically excluded.
This is one area where Lombard or securities-backed lending against an existing equity portfolio can sometimes work better than a traditional mortgage. We discuss that route below.
What income multiples are available to tech executives in 2026?
A tech executive with provable variable income can reasonably target:
- 5 times total income (base plus included variable) on a specialist HNW lender application
- 5.5 times in selected cases with strong vesting history and asset backing
- 6 times in private bank applications under the FCA high net worth definition with assets under management
The actual number depends on your loan to value, the property type, the stock concentration position and your asset position outside the equity package. Indicative ranges, confirmed at application.
For context, a senior engineering manager at a US-headquartered public tech company on £200,000 base, £40,000 cash bonus and £150,000 of RSUs vesting in the next 12 months is typically credited with around £360,000 of recognised income on a specialist application. At 5x, that supports a £1.8m mortgage. The high street, looking at base and half-bonus alone, would support around £990,000 on the same package.
Which lenders accept tech-specific compensation in 2026?
The lender list shifts quarterly. As of 2026, the lenders most active for tech executive cases are:
- The high street large loan desks for cases with strong base salary and clean RSU vesting history
- A small group of specialist HNW lenders that underwrite individually for FCA HNW applicants and accept full inclusion of vesting RSUs
- Private banks for cases with assets under management or willingness to move investable assets
Naming specific lenders publicly is not useful because the panel changes. We track the live appetite week by week. The shortlist we recommend on any given case reflects what is actually available now, not what was available last quarter.
What documentation do tech executive applications require?
For PAYE-employed tech executives:
- P60s for the last 2 to 3 years
- Last 3 months of payslips
- Stock plan statement showing all live grants and vesting schedules
- Written confirmation of bonus history
- Bank statements showing RSU vest events
For pre-IPO scale-up executives:
- Last 3 months of payslips
- Contract of employment
- Stock plan or option agreement
- The most recent independent valuation or 409A
- A company letter confirming grant value, vesting and current valuation reference
- Where applicable, evidence of any prior tender offer or buyback
For US-headquartered employers, the documentation often comes via E-Trade, Schwab, Fidelity or a similar platform. Specialist lenders are familiar with those statements. The high street is sometimes not.
How does Lombard lending compare to a tech executive mortgage?
Lombard lending is a credit facility secured against a portfolio of liquid investments rather than a property. For a tech executive with a substantial vested RSU portfolio that they want to retain, Lombard sits alongside a residential mortgage as a complementary tool, not a replacement.
Practical use cases include:
- Bridging the gap between completion and a forthcoming RSU vest event without selling stock at the wrong moment
- Funding a property purchase deposit while keeping the equity portfolio invested
- Lower-rate borrowing where the portfolio LTV (typically 50% to 70%) supports it
The trade-off is that Lombard is callable. If the portfolio falls in value, the lender can require additional collateral or partial repayment. For most tech executive borrowers, the combination is a residential mortgage at a competitive rate plus a Lombard facility used selectively. We discuss that pairing in our Private Bank Mortgages piece.
What rates apply to tech executive mortgages in 2026?
Rates in 2026 sit broadly across these ranges, indicative only and subject to lender criteria, individual circumstances and product structure:
- High street large loan desks at 60% LTV: from base + 0.7% on a 5-year fixed
- Specialist HNW lenders at 70% LTV: from base + 1.0% on a 5-year fixed
- Private banks at 60% LTV with AUM relationship: from base + 0.5% on a 5-year fixed
According to the Bank of England, the base rate sits at 3.75% as of April 2026. That puts indicative 5-year fixed pricing for a tech executive mortgage at 60% LTV in the 4.25% to 4.75% range, with private bank and AUM-backed pricing at the lower end.
According to the Office for National Statistics, employment in the UK information and communication sector grew through 2025, with senior technical roles concentrated in London, Cambridge, Manchester, Edinburgh and Bristol. Lender appetite has followed the demand, with several specialist lenders building dedicated underwriting routes for tech compensation in the last 18 months.
How is the case prepared for an underwriter?
The case prepared for a tech executive underwriter contains the package narrative first. Stock plan statement showing vesting schedules. Bonus history with employer letters confirming structure. RSU vesting schedule with a forward projection. For pre-IPO equity, a company letter confirming grant value and current valuation reference.
We package the case in that order. Specialist lenders ask for the stock plan statement first and the payslip second. The package follows that logic. The high street default is the reverse, which is part of why the high street under-offers tech executive applicants.
Often we find the most useful supporting document is a one-page narrative that explains the package structure in the lender’s own language. Underwriters appreciate the work and the case moves faster.
Worked example. Senior engineering manager at a public tech company
You are a senior engineering manager at a US-headquartered public tech company. Base £200,000. Target bonus £40,000 paid two years running, mostly in cash. Three live RSU grants vesting £150,000 in the next 12 months. £350,000 deposit. Looking at a £1.4m flat in London, so you need £1.05m of borrowing.
The high street view
Base £200,000. Bonus at 50%, around £20,000. RSUs ignored entirely. Recognised income £220,000. LTI at 4.5 times reaches £990,000. The £1.05m loan sits outside the high street’s reach.
The specialist view
Base £200,000. Bonus at 100%, £40,000. RSU vesting included at 80%, around £120,000. Recognised income £360,000. LTI at 5 times reaches £1.8m of theoretical capacity. The £1.05m loan goes through with margin. Pricing on a 5-year fixed in the 4.25% to 4.5% range subject to product availability.
Worked example. VP at a pre-IPO unicorn
You are a VP at a Series E UK pre-IPO scale-up. Base £180,000. Target bonus £30,000. Pre-IPO equity grants with a paper value of £600,000 vesting over the next three years. £150,000 deposit. Looking at a £700,000 flat with a £550,000 loan needed.
The high street view
Base and bonus only, recognised income around £195,000. LTI at 4.49 times, around £876,000. The £550,000 loan goes through.
Where it gets interesting
If you want £700,000 of borrowing rather than £550,000, the pre-IPO equity does not move the needle for most lenders. A specialist HNW lender will look at it carefully but typically still discount it heavily. The honest answer is to wait for liquidity (an IPO, a tender offer or a funded buyback) or use Lombard against any other liquid assets.
What about Bristol, Cambridge and Manchester tech executives?
The same lender logic applies outside London. The specialist HNW lender list is national. Pricing is uniform across the UK with the exception of certain private banks that quote slightly differently outside London.
What does shift is the property side. Tech executive borrowers in Cambridge often look at properties with non-standard construction (concrete frame from the city’s mid-century housing stock) or with unusual title structures. Bristol tech executives more often run into Grade II listed properties in Clifton, Redland and the wider Bath axis. Manchester is more standard residential stock. We work the property side alongside the income side.
Fox Davidson arranges residential mortgages for tech executives across the UK. If your package is mostly equity and the high street has under-offered, we read tech compensation every week.
Frequently Asked Questions
Can I include unvested RSUs in my mortgage application?
Yes, with selected specialist lenders. Most high street lenders ignore unvested RSUs entirely. A small group of specialist HNW lenders will recognise unvested RSUs against a vesting schedule, typically with a 50% to 70% haircut to account for stock price risk. The recognition tightens where the unvested stock is concentrated in your employer.
How are vested RSUs that I sold treated for affordability?
Vested RSUs that have been sold for cash are treated as income at the point of vesting. Specialist lenders include them at 80% to 100% on a 2 to 3 year history of consistent vesting events. Bank statements showing the cash receipts support the calculation. The high street treatment varies and tends to be lower.
Can I get a mortgage on pre-IPO equity in 2026?
Selected specialist HNW lenders will recognise pre-IPO equity in select cases, with heavy discounting and supporting documentation from the company. Most lenders exclude pre-IPO equity from the affordability calculation entirely. The honest position is that pre-IPO equity is rarely the lever that moves a marginal case across the line. Base salary and any vested liquidity matter more.
What happens if my employer’s stock falls between application and completion?
Specialist lenders revisit the affordability calculation if there is a material movement between agreement in principle and completion. A modest movement does not usually change the offer. A 30% drop in stock price can prompt a recalculation. We monitor the position and communicate with the lender proactively where this is a risk on a long completion timeline.
Do all specialist lenders accept big-tech compensation?
The active panel for large public tech employers (Meta, Apple, Amazon, Alphabet, Microsoft, Nvidia and similar) is wider than the panel for pre-IPO scale-ups. Most specialist HNW lenders are comfortable with public stock, vesting schedules denominated in USD, and bonus paid in stock. Pre-IPO is a smaller panel. We confirm the lender list at the start of any conversation.
Can I use Lombard lending instead of a mortgage to buy a property?
In limited cases, yes. Lombard lending against a substantial liquid portfolio can fund a property purchase without a traditional mortgage being required. The trade-off is that Lombard is callable and the LTV against the portfolio is typically 50% to 70%. For most tech executive borrowers, the combination is a residential mortgage plus a Lombard facility used selectively, not Lombard alone.
How does foreign currency RSU income affect a UK mortgage?
RSU income paid in USD or denominated in USD-listed stock is broadly accepted by specialist lenders. The lender applies an FX haircut, often 10% to 20%, to account for currency movement. Mortgage payments in GBP against USD-denominated income carry FX risk that the borrower bears. We model the FX position before quoting on any case.
What income multiple can I expect on a tech executive mortgage at 75% LTV?
The realistic 2026 range at 75% LTV is 4.5 times income on a strong high street large loan desk application, 5 times on a specialist HNW application, and 5.5 times in selected cases with diversified asset position. 6 times is achievable in private bank applications under the FCA high net worth definition. Specific multiples are confirmed at application.
Can I use a forthcoming IPO as evidence of future income?
Selected specialist lenders will consider a confirmed IPO timeline in the underwriting narrative, but the affordability calculation is based on the current package at the time of application. The pre-IPO equity is treated as illiquid until vesting and a public market exist. Where the timing matters, we sometimes recommend completing the mortgage before IPO and remortgaging afterwards when the position can be repriced.
Is there a tax angle on RSU vesting I should think about with my mortgage?
RSU vesting is treated as income at the point of vest in the UK. PAYE and NI are deducted at source. The net amount that lands in your account is the figure most lenders work from. Speak to a tax adviser about the gross-net dynamic and any specific elections that might apply (for example Section 431 election where shares are subject to forfeiture restrictions). Fox Davidson is not a tax adviser.
Can I get an interest only mortgage on a tech executive package?
Yes. Interest only is widely available to tech executives where the loan to value is below 70% and there is a credible repayment vehicle. Acceptable repayment vehicles include investment portfolios (often the existing RSU portfolio post-vest), pension lump sums, sale of other property, and anticipated bonus or refresh grant accumulation. Specialist HNW lenders are comfortable with the investment portfolio route. The high street tends to be more conservative.
Related guides
- High Net Worth Mortgage Broker UK
- Mortgages for Investment Bankers
- Goldman Sachs Mortgages
- Investment Banker Mortgages
- Private Bank Mortgages
- Complex Income Mortgages
Rates indicative as of April 2026, subject to lender criteria, individual circumstances and product assessment. Your home or property may be repossessed if you do not keep