Salary and mortgage application

oli_ro

My employer compensation scheme is as follows. You get a base salary then a number of allowances based on your grade(car allowance, pension, benefits) and you arrive at your total compensation amount. With this money you could buy benefits or have them all paid as salary.

On my payslip there are 3 salary amounts. The yearly base salary, the total salary(which includes alowance) and then the monthy gross salary which is the money allocated to the salary after benefits are subtracted. It is higher than monthly base, but lower than montly total.

Which one does get taken into account by a lender ? (I am hoping the monthy gross X 12)

nat82

I'm not sure exactly in your case, but our lender looked at both our P60's to see what we had earned in the last financial year.

Hopefully someone will be along soon to provide a better answer!

Peelerfart

I have exactly the same system as you oli_ro whereby I have a base salary then a sum added then a sum taken away for pension benefits etc.

Last time I applied for a mortgage they seemed to be OK with taking my description of how it all worked,especially when reinforced by my P60

TEDDYRUKSPIN

Simple. They will take what is actually guaranteed salary. Your best bet is 3 years worth of P60's.

If not, they will take the monthly net if it stays the same for more than 3 months.