pay varies monthly causing issues with mortgage application.

ozmusafir

Thank you, everyone, that helped me out.
I manage to work out my basic pay and everything calculated up.

My next issue is the following:

I took holiday on Oct and its written on my payslip as holiday pay.
Does any know what calculation is used by Tesco to determine holiday pay?

ACG

Have you had a look at your contract or spoken to your HR people?
Do Halifax really want to know about that?

ozmusafir

According to my contract the holiday pay is averaged by my 3 months of earning. But the number is averaged by is known to me.

The Tesco HR team is useless and unable to provide a efficient answer.

My MA wants me to explain exactly the formula used so he’s able to forward this information to the lender.

I was under the impression the lender is able to verify basic monthly salary by asking for a reference if payslips has anomalies or variations.

Thrugelmir

ozmusafir wrote: »

According to my contract the holiday pay is averaged by my 3 months of earning. But the number is averaged by is known to me.

Easy enough to find.

Your average earnings are based on the pay you receive
in the 12 weeks before your holiday.

All variable pay you receive such as overtime, premiums,
or call-out pay, will be included in your average holiday
pay. Any one-off payments will not be included.

ozmusafir

Thrugelmir wrote: »

Easy enough to find.

Thank you, I came across the this in the staff handbook. I'm unable to find out how the holiday pay is averaged. Is it averaged by 3 or by the weekly hours?

For example, in August I got holiday pay of £123.84.

My salary for the previous 12 weeks are below

09/17 = 592.87
08/11 = 358.52
07/11 = 470.45

I use many averaging methods but unable to reach the holiday figure of £123.84.