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Redundancy payment considered income?

I am taking a redundancy payment in May 2015 (22k, so not taxed), and leaving my job, possibly to become self-employed. I'm thinking about future mortgage needs. I understand I'll need at least two years of SA302s. Will the redundancy payment be considered as income in the 2015/16 tax year, or will it be solely what I earn from self-employment?

I am likely to be supporting myself from multiple little income streams. A bit of self-employment, bit of PAYE, bit of property income, bit of dividends. Do lenders take a dim view of this?

Thanks for any help.
Debt-free 27th July 2012!

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Cat2011 wrote: »

    I am likely to be supporting myself from multiple little income streams. A bit of self-employment, bit of PAYE, bit of property income, bit of dividends. Do lenders take a dim view of this?

    Each lender will judge an application on it's merits. In particular the secure nature of the income with a view to the longer term. If the income is extremely variable or not guaranteed, or isn't well established. Then the likelihood is that it will be disregarded.
  • amnblog
    amnblog Posts: 12,769 Forumite
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    Your redundancy payment is not income.


    Multiple earned income sources can be considered by many Lenders.


    Self employed income needs to come with a track record of 24 months in most cases.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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