Which income will a mortgage lender accept

Dogsarethebest2025

Hi all, 

my partner is starting a new job in July, its very well paid but his pay isn't straight forward. He will receive additional payments in addition to his basic pay and my understanding is that lenders do not always accept this. We have a mortgage already, shared ownership. In 5 years we have only paid off £12,000 - very high interest rate as we purchased at the start of covid plus my partner was self employed at the time which made things harder for us. 

He will receive his basic pay for the first 8 hours worked during the day but he is contracted to work 11 hour days so the following 3 hours will be paid as overtime. Although he is contracted to work 11 hours a day - the final 3 hours will be put down as overtime on his payslip. 

he works away, so he works 4 days the comes home for 3. He gets paid travel allowance (to and from hotel) then he gets paid a different travel allowance for travelling home on the weekend. he also gets subsistence pay, lodge allowance and shift allowance as he works nights. 

all his extras other than basic pay add up to more than his basic pay so ideally we would like it to be included or at least 50%. 

we need to know roughly how much deposit we need to save. we will have the standard 10% next year but what we don't want is to get our hopes up to get a home we have found and love and then only to be told we can't afford it. 

don't need an exact answer here, just looking to see if anyone has been in similar position and if lenders even considered the extras. 

I have done the whole online mortgage calculator and I find them rather generous, lloyds and Barclays etc took 100% of the overtime/shift allowance and travel but didn't accept lodge allowance, which seems too good to be true. 

any advice would be great

Mark_d

You partner has not started his new job so we don't know how long his overtime will continue to be paid.  He'll get some travel allowance and subsistence allowance because he incurs costs for these things - which I don't because  I work from home.

I suggest using his basic pay in the first instance.  Once he has a significant track record with his overtime payments then this can be taken into account.  I don't think other allowances can be taken into account.  I get an allowance for my gym membership!

Perhaps look for a specialist mortgage broker such as https://www.cmmemortgages.com/

Hoenir

Dogsarethebest2025 said:

He will receive his basic pay for the first 8 hours worked during the day but he is contracted to work 11 hour days so the following 3 hours will be paid as overtime. Although he is contracted to work 11 hours a day - the final 3 hours will be put down as overtime on his payslip. 

Are the 3 hours guaranteed to be available to work?  The employment contract appears to allow the employer some flexibility if the hours are not worked. 

Dogsarethebest2025

Hoenir said:

Dogsarethebest2025 said:

He will receive his basic pay for the first 8 hours worked during the day but he is contracted to work 11 hour days so the following 3 hours will be paid as overtime. Although he is contracted to work 11 hours a day - the final 3 hours will be put down as overtime on his payslip. 

Are the 3 hours guaranteed to be available to work?  The employment contract appears to allow the employer some flexibility if the hours are not worked. 

Yes. So those are his hours. Not 8 but 11 a day. Because he works a 4 day week he has to work 11 hours but according to the company’s policy anything over 8 hours must be paid as overtime. So he can’t just say no I want to work 8 hours not 11. 

ACG

If his contract is 11 hours, then I would say you would be able to include the 11 hours. 
The extra bits I think you will struggle with. 

Dogsarethebest2025

ACG said:

If his contract is 11 hours, then I would say you would be able to include the 11 hours. 
The extra bits I think you will struggle with. 

thanks a lot! ive since found out Barclays takes the full amount of overtime, shift and travel allowance which is amazing as long as you have 3 months worth of payslips to back this up.