Mortgage advice

Miiri

Hi

Wonder if you can help - I'm hopefully on the path to buying my first house by the end of the year. Savings are going well but the main thing I'm not sure about is what I can borrow.

I'm a shift worker and my official salary is around 30k.. but I also receive a 30% shift allowance so effectively - my pay is 40k per annum. The amount never varies and its paid throughout the year so whether on holiday or not. Are lenders likely to look at my base salary or can I include the shift allowance?

Miiri

MF2015

Miiri wrote: »

Hi

Wonder if you can help - I'm hopefully on the path to buying my first house by the end of the year. Savings are going well but the main thing I'm not sure about is what I can borrow.

I'm a shift worker and my official salary is around 30k.. but I also receive a 30% shift allowance so effectively - my pay is 40k per annum. The amount never varies and its paid throughout the year so whether on holiday or not. Are lenders likely to look at my base salary or can I include the shift allowance?

Miiri

Hi Mirri, I'm also a shift worked with 35% shift allowance and currently applying for a mortgage. Most lenders will take 100% of shift pay and 50% of any overtime, some will take 100% if you can prove you get that every month and have done so regularly.

Hope that helps.

The_J

If you have a good consistent track record of that money always going into your account then you'll definitely be able to find someone who'll use all of it.