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    • middleclassbutpoor
    • By middleclassbutpoor 10th Jul 18, 6:23 PM
    • 129Posts
    • 137Thanks
    middleclassbutpoor
    Mortgage calculators
    • #1
    • 10th Jul 18, 6:23 PM
    Mortgage calculators 10th Jul 18 at 6:23 PM
    When using online mortgage affordability calcs, and it asks for gross income, does anyone know whether you go off your gross pay less salary sacrifice or do you just give your basic gross income?

    I will be using a mortgage broker but just looking at a few scenarios so my thinking is a bit clearer when we do go to one.
Page 1
    • ACG
    • By ACG 10th Jul 18, 6:25 PM
    • 17,174 Posts
    • 9,054 Thanks
    ACG
    • #2
    • 10th Jul 18, 6:25 PM
    • #2
    • 10th Jul 18, 6:25 PM
    Before deductions usually.
    So it will be your actual gross annual income.
    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.
    • kingstreet
    • By kingstreet 10th Jul 18, 6:35 PM
    • 33,703 Posts
    • 18,280 Thanks
    kingstreet
    • #3
    • 10th Jul 18, 6:35 PM
    • #3
    • 10th Jul 18, 6:35 PM
    When using online mortgage affordability calcs, and it asks for gross income, does anyone know whether you go off your gross pay less salary sacrifice or do you just give your basic gross income?

    I will be using a mortgage broker but just looking at a few scenarios so my thinking is a bit clearer when we do go to one.
    Originally posted by middleclassbutpoor
    It depends on what the salary sacrifice is for.

    Pension conts - most lenders will ignore and take gross.

    Childcare vouchers - most lenders will take entire childcare cost into account inc voucher cost.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • middleclassbutpoor
    • By middleclassbutpoor 10th Jul 18, 7:07 PM
    • 129 Posts
    • 137 Thanks
    middleclassbutpoor
    • #4
    • 10th Jul 18, 7:07 PM
    • #4
    • 10th Jul 18, 7:07 PM
    Hi

    Thanks, - pension and bought extra holiday...I do get vouchers but its only a small amount. Will work on net of holiday and childcare vouchers

    Thanks
    • middleclassbutpoor
    • By middleclassbutpoor 10th Jul 18, 10:15 PM
    • 129 Posts
    • 137 Thanks
    middleclassbutpoor
    • #5
    • 10th Jul 18, 10:15 PM
    • #5
    • 10th Jul 18, 10:15 PM
    One final question, if we were to consider using the help to buy scheme, are these mortgages 'specific' deals by lenders or are they their 75% mortgage range.

    Again, I will be using a broker but just trying to get an idea now of monthly costs of what we want to borrow etc.
    • amnblog
    • By amnblog 10th Jul 18, 10:18 PM
    • 10,647 Posts
    • 4,213 Thanks
    amnblog
    • #6
    • 10th Jul 18, 10:18 PM
    • #6
    • 10th Jul 18, 10:18 PM
    Specific deals for lenders in this market.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • middleclassbutpoor
    • By middleclassbutpoor 10th Jul 18, 10:58 PM
    • 129 Posts
    • 137 Thanks
    middleclassbutpoor
    • #7
    • 10th Jul 18, 10:58 PM
    • #7
    • 10th Jul 18, 10:58 PM
    Thanks amnblog.

    Would 2.5% seem a sensible rate to work on for a 5 year fixed rate for example?
    • datlex
    • By datlex 11th Jul 18, 7:31 AM
    • 1,695 Posts
    • 1,588 Thanks
    datlex
    • #8
    • 11th Jul 18, 7:31 AM
    • #8
    • 11th Jul 18, 7:31 AM
    Try 3.5% for 5 year fixed to be on safe side.
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