12 months wage slips

FairyPrincessKimberley

Jaspercat17 wrote: »

Do you think this could be a bad sign? I feel like it's just thrown a spanner in the works. Fingers crossed this happens for us, hopefully we should have answere by the end of the week. The tipple will either be champagne for approved or whisky for declined! 🙈😩

I have my champagne waiting in the fridge its been there for a few weeks now though!!!

Jaspercat17

Fingers crossed for us both, how far along are you in the process?

bigstevex

Curious, what are people putting as their income when they are being asked for payslips? Are they stating overtime too, or just having to just prove salary in general.

My salary has ~15-20k of overtime etc on it every year but am I allowed to take this into account easily or is it not worth the trouble? It's not really needed to obtain the mortgage but it would make it look a hell of a lot more affordable, instead of being sat on the borderline.

I've had the same situation for 15 years, it's all guaranteed overtime

Keezing

bigstevex wrote: »

Curious, what are people putting as their income when they are being asked for payslips? Are they stating overtime too, or just having to just prove salary in general.

My salary has ~15-20k of overtime etc on it every year but am I allowed to take this into account easily or is it not worth the trouble? It's not really needed to obtain the mortgage but it would make it look a hell of a lot more affordable, instead of being sat on the borderline.

I've had the same situation for 15 years, it's all guaranteed overtime

It's normally very clear on the application form.

There will be a box for your basic income, then a box for commission, overtime etc.

What may not be immediately clear is the criteria the lender uses to weight the different income categories. Lender X may accept all of your overtime towards their lending decision, whereas Lender Y may only consider a certain percentage.

csgohan4

My mortgage provider ignored my overtime, so don't assume they will be taken into account

Jaspercat17

Our lender does take into account bonuses...hence why our ma assisted us to go. This has had to be proven by his employer that the bonus is definite.

ashp_2

csgohan4 wrote: »

My mortgage provider ignored my overtime, so don't assume they will be taken into account

Same for me. I earned around 16k last year in bonus they were not interested!

fewcloudy

This is one of the many reasons why people use a mortgage broker. Knowing which lenders do and don't take account of regular overtime payment could make a huge difference to the amount you could borrow.


fc