gross income question

keadd

hi there,

when filling out applications for any credit it always asks what is my gross income. i always put my wages in but i just wondered can i include the money that goes into my current account every month from my girlfriend for her half of our mortgage?

as the higher income could get me a higher credit limit?

thanks!

McKneff

They want only your gross income which you are paid for your employment.

TFD_2

keadd wrote: »

hi there,

when filling out applications for any credit it always asks what is my gross income. i always put my wages in but i just wondered can i include the money that goes into my current account every month from my girlfriend for her half of our mortgage?

as the higher income could get me a higher credit limit?

thanks!

You could, but it would be fraudulent and misleading. If the lender found out, you could end up on the CIFAS register and screw your chances of obtaining finance for many years to come.

It's a transfer of funds, not an income.

If your OH was declaring her gross income would she deduct the money she pays towards the mortgage?

keadd

fair enough I was just checking!

keadd

hi again,

when it asks am i a home owner or a tennant etc what should i put?

im a shared owner in a part buy/part rent scheme????

TFD_2

keadd wrote: »

hi again,

when it asks am i a home owner or a tennant etc what should i put?

im a shared owner in a part buy/part rent scheme????

If you own your home (or some of it) then it seems fine to call yourself a home owner.

never-in-doubt

keadd wrote: »

hi there,

when filling out applications for any credit it always asks what is my gross income. i always put my wages in but i just wondered can i include the money that goes into my current account every month from my girlfriend for her half of our mortgage?

as the higher income could get me a higher credit limit?

thanks!

Its no so much ending up on CIFAS (they don't add cifas for incorrect matching data), but you will be flagged on the N Hunter system which picks up those types of irregularities - i.e. if your salary jumped by £6k per annum in a few weeks since your last application showed a lower salary it would register an applicant refer marker which basically warns other lenders that your data is being elaborated.....

That said, some cards ask for family income as a separate entity for instance 'gross salary' then next field may say 'additional income, such as spouse/partner salary'. Tesco allow this option (so do many others)....

To summarise, i'd not lie about income but then again so long as you stick to the same value or make small changes every few months then you'll be ok (unless a lender asks for proof of wages then load the data to N Hunter which shows they have you declaring £XXX higher, in which case a flag would be raised)....

Regards to the homeowner, as you have a mortgage you are automatically classed as a homeowner - regardless of the amount of the property you own. A homeowner usually means there will be a mortgage in your name on the credit report - unless you have paid it off in full...

hax_2

never-in-doubt wrote: »

Its no so much ending up on CIFAS (they don't add cifas for incorrect matching data), but you will be flagged on the N Hunter system which picks up those types of irregularities - i.e. if your salary jumped by £6k per annum in a few weeks since your last application showed a lower salary it would register an applicant refer marker which basically warns other lenders that your data is being elaborated.....

That said, some cards ask for family income as a separate entity for instance 'gross salary' then next field may say 'additional income, such as spouse/partner salary'. Tesco allow this option (so do many others)....

To summarise, i'd not lie about income but then again so long as you stick to the same value or make small changes every few months then you'll be ok (unless a lender asks for proof of wages then load the data to N Hunter which shows they have you declaring £XXX higher, in which case a flag would be raised)....

Regards to the homeowner, as you have a mortgage you are automatically classed as a homeowner - regardless of the amount of the property you own. A homeowner usually means there will be a mortgage in your name on the credit report - unless you have paid it off in full...

That's not fair - what if someone really did get a huge salary increase recently? I'm not doubting what you say - I'm sure what you say is correct - but don't you think they're being very unfair by marking people in this way?

never-in-doubt

hax wrote: »

That's not fair - what if someone really did get a huge salary increase recently? I'm not doubting what you say - I'm sure what you say is correct - but don't you think they're being very unfair by marking people in this way?

Yes but they wouldn't pick up on it if it seemed genuine, I was trying to imply say one month I apply and say I earn £20k then a few weeks later say I earned £26k then a few weeks later say I earned £30k - sorry if I didn;t make it clear.

Basically, this would be picked up if it appeared that you were guessing your salary! Regular increments as detailed above would be too dodgy and hard to believe....

izools

And it probably wouldn't result in a CIFAS marker or a declined application, if everything else was in order they can just ask you to provide a payslip

never-in-doubt

izools wrote: »

And it probably wouldn't result in a CIFAS marker or a declined application, if everything else was in order they can just ask you to provide a payslip

Exactly - falsifying a minor detail (such as mobile number or salary) would never generate cifas as it doesn't meet their minimum criteria thus N Hunter records it which is auto-searching when a lender subscribes to Experian......

However your concept is true, if they suspect that you have lied about salary due to a warning from N Hunter they would either decline or request a payslip. :T