Acceptable Income

gabby71

Hiya

Im currently saving towards a deposit for my first house purchase - had just got to 10% but seems I need to get to 15% given the current climate (and less than perfect credit history)
Anyway, I’m buying alone and my salary isn’t great - £24,000 pa, I also receive PIP of around £4400 pa, however the company I work for gives every employee £1800 worth of company shares twice a year; you can’t touch them for 3 years until they vest but once you reach 3 years, you can then cash shares every 6 months as they vest- I’m hoping this makes sense to the financially savvy people reading this 😂.
So, for income purposes I doubt it could be classed as a bonus, but would any lenders take this into account?
Ive been with the company for 11 years and in that time the share price has increased from £9 to £27, on average, it’s an extra £4800 per year.
thanks for reading

Gab

MovingForwards

All that counts is what you have (immediate) access to either by selling or giving notice. Not many people would risk having shares / stocks when close to buying, unless they had more than enough to cover eg 2 - 4x the amount.

Therefore unless you can cash them in when you are ready to buy, they will not be taken into account.

ACG

Shares do not count as income.

When I worked for RBS, their share price was ridiculous. About 8 months after I left, they were worth pennies... I dont think my leaving had anything to do with that, I would like to think I was that influential but I doubt it. 

Your dividend (if you get one) may be acceptable as an income, but I imagine that would only be a small amount of additional income anyway.

gabby71

Thanks both.
ACG, yes the dividends only equate to around £800 per year.
Very similar thing happened to my Mum years ago with BT employee shares 😟.