mortgage rules about the amount you can borrow based off salary or p60

SdotK12

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Hi i'm trying to figure out if i can push a bank to recognize my P60 as my yearly gross income, as i'm a shift worker and over 50% of my gross wages come from shift allowance, Built in overtime and bonuses. if i don't get it recognized i wont be able to afford anything with just my base salary taken into account. what makes it worse is i couldn't even go for the county council mortgage as i will then be earning to much because they base it off you P60 so shouldn't the banks do the same? any help with this would be very help full.
 
The banks don't have to do anything. They have their own underwriting criteria and they all look at guaranteed salary. P60 is used for checking CBI rules.
However, each bank looks at it differently so you need to check around. From what I've seen PTSB look most favourably on shift allowances, depending on on your industry. I understand UB will also factor them in, but possibly only at 50% of the average over last 2 years.
 
The bank will look at the breakdown on the salary cert the employer fills. They will 100% of basic salary and different banks take different percentages then of other variable income. The P60 for them just confirms what you earned in the years submitted so they don't go by them for income calculation as such.
 
How some of the banks will treat bonuses and other payments will vary depending on how your employer completes the salary cert requested by the bank. If they state shift allowances are guaranteed some banks may look more favourably on it.
 
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