Income for mortgage app - NHS unsociable hours

Red-Squirrel_2

Sorry if this has been asked before, have done a search but no results as far as I can see.

I work for the NHS and get enhancements to my wage for working nights and weekends. Technically, these aren't 100% guaranteed I suppose, but they are as good as in reality, the area where I work is a 24 hour service and always will be.

If I was to apply for a mortgage, does anybody know of any lenders that take these payments into account for affordability? My basic net pay is only just over £1300 but actually I take home between £1450 and £1550, and as I'm still near the bottom of my band this will only increase as long as I stay in the job.

Thanks for any help.

Contemptuous

Yes, some lenders will take those payments into account (although perhaps not 100% of then and will use a proportion instead) as long as your payslips reflect that they are received consistently.

Lilhobo

I think when our mortgage broker calculated using mine she took into account 50% which gave me a figure of an extra 1800 ish per year when In reality this year I've got an extra 6-7k as I work mainly nights.

amnblog

Applicants where budget is tight and affordability can calculate 'below the target line' need to ensure they have help in submitting their application.

Seconding guessing based on partial knowledge is not the way forward.

OFAB

kingstreet

Rough rule of thumb.

If it appears at the same amount on all three of your latest three months' payslips, you can have 100% taken into account.

If it appears at different amounts on all three of your latest three months' payslips, you can have 50% taken into account after averaging, or worst case, using the lowest visible.

After annualising, of course.

Lender selection is essential and perhaps broker experience here advisable.

Red-Squirrel_2

kingstreet wrote: »

Rough rule of thumb.

If it appears at the same amount on all three of your latest three months' payslips, you can have 100% taken into account.

If it appears at different amounts on all three of your latest three months' payslips, you can have 50% taken into account after averaging, or worst case, using the lowest visible.

After annualising, of course.

Lender selection is essential and perhaps broker experience here advisable.

Thanks, I think I probably will use a broker this time, some of the 'direct only' deals look tempting but I don't want to risk a rejection.

It doesn't seem particularly tight on affordability to me, monthly payment would be about 25-30% of take home pay based on the sort of property I'm looking at, but things have changed so much since last time I got a mortgage (successful and simple application whilst technically unemployed! :eek:) that its hard to know the lay of the land these days.