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Sorry another question about mortgages and government pensions
SR1
Posts: 147 Forumite
My husband has one of these government work based pensions which I've never really got me head around . His salary a couple of years ago when he started at a new location was 24600, his latest p60 says 23600 so think he pays about£80 a month salary sacrificed , I'm confused is anything salary sacrificed omitted from his gross salary ? I'm not sure when filling out mortgage calculators what to put when it asks about pensions contributions
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I'm not sure. I pay into a government pension and had to declare monthly pension contributions as an outgoing on my application form.0
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The correct way for a P60 to be completed is exclude any pre-tax deductions (i.e pensions which are paid on a tax-free basis) from the income total. He appears to be contributing 4% of gross income to pension.
Many lenders, but by no means all, will deduct this from the affordability calculation for a mortgage.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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