Guaranteed overtime

Worried

Are there many lenders that take 100% guaranteed overtime into account? What do you need to prove guaranteed overtime?

AndrewSmith

There are some but it depends on whether the employer would actually state on an employment reference if the income is Guaranteed.

Of those that do, the majority would also want to see it on payslips on a very regular basis to justify it's guaranteed status.

Worried

Don't think they'd be any problems getting a employers ref stating this. It would be on pay slips going back two years and on last two p60s, but whether my OH still has these going back that far, I'm not sure. How far back would they want to see? Like 12 months pay slips and last p60, or further back?

AndrewSmith

usually the last 3 months payslips, last years p60 and an employer's reference if they wanted extra re-assurance.

dwight-van-man

Is is actually guaranteed within the contract - or guaranteed in the sense that he would always get overtime? My pet lender would view the latter as regular overtime rather than guaranteed and would only take 50% of it - maybe a stretch to 75% for a really good case...

Worried

I guess it's guaranteed within the contract. What happened is he got a promotion to assistant manager in his firm 2 years ago. I believe he has signed the contract for this position, but payroll still haven't sorted out his pay. He is being paid his old basic salary, plus the difference made up as an overtime payment. I think they have been waiting on their new premises being built, as they believe it will increase thier business and they will then put him on a higher salary still, but this has been subject to delay and two years later, building is in progress, but his payslip still shows his pay as being made up with an overtime payment. So there will be no problem getting an employers ref to state the salary he is on, but will this effect our chances? He is the main earner and his overtime makes up a big chunk of his income on his payslip, so I am concerned.