‘New This Morning host’ Cat Deeley is set for a bumper payday and could even DOUBLE her earnings with deals… but it’s still not as much as her predecessor Holly Willoughby

Cat Deeley is set for a huge payday after landing the role of presenter on This Morning.

The English presenter, 47, has reportedly been chosen to co-host the ITV show with Ben Shephard The sun claims the couple will receive an annual salary of £555,000.

Although hefty, the salary still pales in comparison to former presenters Holly Willoughby and Phillip Schofield, who were reportedly paid £700,000 a year for their roles.

However, Cat is not short of money as she currently earns at least £344,000 per season as host of So You Think You Can Dance in the States, where she is reportedly paid £43,000 per episode.

The star is currently in Los Angeles working on the new series, which will air in March. She has not yet confirmed whether she will remain with the show – which she has been on for 16 seasons – next year.

Although hefty, the salary still pales in comparison to former presenters Holly Willoughby (pictured) and Phillip Schofield, who were reportedly paid £700,000 a year for their roles

If she decides to combine both jobs, it won't be for financial reasons, as brand and culture expert Nick Ede revealed she could double her This Morning salary with brand deals online.

Nick told MailOnline: 'Cat is hot on the style front and I can see her making a lot of money working with brands like John Lewis and M&S who will be vying for her to wear their items.

'She could make over £200,000 from fashion collaborations and she also has her own fragrance which I'm sure will fly off the shelves.

'I can also see her potentially working with a brand like Charlotte Tilbury or L'Oréal and she could earn as much as £250,000 for that.

'Cat is the perfect presenter for This Morning. She has a large fan base of people who grew up with her on Saturday mornings and she has always been a safe pair of hands.

'She has a great reputation for being great fun, but she can also balance difficult talking points and so she will make a winning combination with Ben.

'What's also really great for a brand about Cat is that she has huge appeal in the US as the host of the hit show So You Think You Dance, so if they want to expand or create brand deals in the UK and US, she's the perfect person to do it.'

According to The sunCat was picked for This Morning after viewers dubbed her the 'perfect choice' after she was drafted in when Holly quit for the sake of her family amid a foiled kidnap and murder plot.

The English presenter, 47, has reportedly been chosen to front the ITV show with Ben Shephard, 49, even though viewers have yet to see the pair together.

Cat is not short of money as she currently earns at least £344,000 per season from So You Think You Can Dance in the States, where she is reportedly paid £43,000 per episode.

Meanwhile, 49-year-old Ben's “clean image” also played a role in getting the job, as the show continues to distance itself from Phillip's scandalous affair with a younger male colleague.

A source told the publication: 'Cat was really impressed when she walked in, and Ben is a consummate professional and hugely popular among the housewives group.'

'(Ben is) an extremely safe pair of hands, has real gravitas and has not a hint of scandal about him – he is purer than pure.

'A lot of people have thought about it, but in the end it's all about chemistry.'

Cat made her This Morning debut with Rylan last month and fans called her 'the perfect choice'.

On Friday, Alison Hammond and Dermot O'Leary appeared as regular presenters alongside a selection of rotating stars including Josie Gibson, Craig Doyle, Emma Willis, Rylan, Rochelle Humes, Andi Peters and Mollie King.

The Sun reports that Dermot will be 'abandoned' by bosses after missing out on the top job, to ensure he 'stays happy' and part of the future of the new look show.

Last week it was Emma Willis who emerged as the bookmakers' favorite to take on the role of regular presenter of This Morning after impressing viewers with her consummate performance.

The veteran presenter kicked off the week with another popular competition, Rylan, five years after they worked together on the recently resurrected reality show Big Brother.

Emma, ​​47, previously presented Big Brother during its previous incarnation on Channel 5, while Rylan, 35, fronted sister show Bit On The Side, and the pair have also hosted This Morning together in the past.

The star replaced Cat, who co-hosted the show with Rylan earlier this month in what has been a revolving carousel of part-time presenters since Willoughby's abrupt departure in October.

And her undeniable popularity has been rightly noted among bookmakers, with Ladbrokes giving her odds of 11/10 to claim the coveted presenting role full-time.

Nicola McGeady of Ladbrokes said: 'Emma Willis made a big impact on This Morning today and after immediately causing a flurry of betting, she is the new favorite to replace Holly Willoughby.'

Last week, Emma Willis emerged as the bookmakers' favorite to take on the role of regular presenter of This Morning after impressing viewers with her consummate performance.