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Salary sacrifice and remortgage
hyposmurf
Posts: 575 Forumite
I currently have a salary sacrifice pension set up and have a remortgage coming up in the next few months. Is it worth me reducing my salary sacrifice now , so that I'm more attractive to the potential mortgage companies? I do have an emergency savings, good credit history etc, but have heard that the salary sacrifice can affect applications for remortgages. Obviously I'm looking to get the best rate I can.
Also how many months bank statements do mortgage companies now generally require and would they require bank statements from both parties of a joint mortgage or the just the main applicant?
Also how many months bank statements do mortgage companies now generally require and would they require bank statements from both parties of a joint mortgage or the just the main applicant?
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Comments
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If you are getting pension payments in lieu of salary, it is not 'income'.
If you were being paid and then making the contribution there are lenders that will ignore it.
If you are tight on affordability, get professional one to one advice before you do anything.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.0 -
If you are getting pension payments in lieu of salary, it is not 'income'.
If you were being paid and then making the contribution there are lenders that will ignore it.
I get pension payments in leu of salary, but surely if I reduce this sacrifice, then I have more income for the mortgage applications and more options open to me?0 -
You do, but do you know if you need the extra income to meet the mortgage requirements?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.0
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