Mortgage borrowing potential calculation

tbo127

Do these 2 factors affect how much mortgage you can borrow: 
1- being paid 13 times a year instead of 12
2 - paying pension contributions through a salary sacrifice scheme. 

I.e. does it lower your borrowing potential? 

stevenbecca

tbo127 said:

Do these 2 factors affect how much mortgage you can borrow: 
1- being paid 13 times a year instead of 12
2 - paying pension contributions through a salary sacrifice scheme. 

I.e. does it lower your borrowing potential? 

They want a yearly figure for income not montly

tbo127

stevenbecca said:

tbo127 said:

Do these 2 factors affect how much mortgage you can borrow: 
1- being paid 13 times a year instead of 12
2 - paying pension contributions through a salary sacrifice scheme. 

I.e. does it lower your borrowing potential? 

They want a yearly figure for income not montly

Thanks. Do you know anything about whether salary sacrifice schemes affect borrowing potential too? 

K_S

tbo127 said:

Do these 2 factors affect how much mortgage you can borrow: 
1- being paid 13 times a year instead of 12
2 - paying pension contributions through a salary sacrifice scheme. 

I.e. does it lower your borrowing potential? 

@tbo127        

- Being paid 4-weekly or monthly won't make a difference on its own, it's the annual income figure that will be taken into account for affordability.

- The impact of salary sacrifice pension deductions will depend on the specific lender criteria for what deductions they consider and disregard for affordability.

A_Random_Man

stevenbecca said:

tbo127 said:

Do these 2 factors affect how much mortgage you can borrow: 
1- being paid 13 times a year instead of 12
2 - paying pension contributions through a salary sacrifice scheme. 

I.e. does it lower your borrowing potential? 

They want a yearly figure for income not montly

incorrect banks may need a net monthly pay as you could theoretically have huge deductions on your payslips which could impact mortgage affordability