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Expenses & Mortgage application
femster82
Posts: 74 Forumite
Hi,
I work permanently but in a consultancy so a lot of travel and expenses. The HMRC 24 month rule starts after we have been at a location for 12 months, so instead of paying out expenses separately we start getting them through our payslip but the taxed is sorted out by our company.
Obviously this then inflates my pay packet by almost £2k every month. My question is how will the bank view this when applying for a mortgage, can I use this to show extra earnings?
In other words I am totally confused.
I work permanently but in a consultancy so a lot of travel and expenses. The HMRC 24 month rule starts after we have been at a location for 12 months, so instead of paying out expenses separately we start getting them through our payslip but the taxed is sorted out by our company.
Obviously this then inflates my pay packet by almost £2k every month. My question is how will the bank view this when applying for a mortgage, can I use this to show extra earnings?
In other words I am totally confused.
0
Comments
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Typically for mortgage application you cannot use 'expenses' to support the application and increase the level of borrowing. On the flip side to this it wouldn't have a negative effect on an application. Still worth seeing a broker as I generally find there is always an exception to every rule!!I am a Mortgage Adviser.
You should note that this site doesn't check my status as a Mortgage Adviser, 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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