What can I count as my income for a mortgage?

TechJinx

Wonder if anyone can help out.

I am looking to move in the new year and doing some "what you can borrow" calcs. I need to know what I can count as my "income".

I work for an employer who has a career average, non-contributary pension scheme, they also pay a "salary" and a "benefits" pot that you can use to buy life insurance, medical cover etc or take as cash. I personally buy some things and take the remainder as cash.

I have a statement from our HR system that says:

Your Pay = X (my "salary")
Your Pension = Y (35% of my salary value)
Your Benefits = Z (7.2% of my salary value)

Your Total Reward = X+Y+Z (a figure nearly 1.5 x my "salary" figure)

So my question is what the heck should I put down as my income on a mortgage form?

Any help/thoughts greatly appeaciated!

Dave_Ham

Will depend upon the lender selected, as some will include some parts and others will not use any.

Work off basic and if tight make a call to the lender or broker.

Best of luck

ACG

I would be going with basic here.

Your pension at the moment is an expense. Once your in receipt of your pension you can then class it as an income. With regards to the benefits, a lot depends on what those benefits are.

As Dave says, work with the basic, if you need anymore then you need to speak to a broker or the lender.