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Will you take all my salary into account?

In assessing a mortgage application the key consideration lenders look at is ability to service loan repayments.

In order to assess this, lenders review your current income and make estimations as to the likelyhood of your income continuing into the future. In this regard certain classes of employment are by their very nature more secure than others.

In considering income the following points are relevant:

- Some overtime will be taken into account –depending on the pattern of overtime over time
- An element of bonus, to the extent it is guaranteed, will be taken into account .
- Consideration will be given to length of employment and security of employment .
- For commission based income – lenders estimate normal income levels .
- For contract employment lenders will look at the nature and length of the contract /contracts and the likihood of income continuance
- Other income to the extent it is verifiable and continuous will be taken into account.

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Mortgage Advice Store Ltd is regulated by the Central Bank Of Ireland

Variable rate warning: The cost of your monthly repayments may increase - If you do not keep up your repayments you may lose your home. The payment rates on this housing loan may be adjusted by the lender from time to time.

Warning: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it

Fixed rate warning: You may have to pay charges if you pay off your fixed-rate loan early

Interest only warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period

Debt consolidation warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term

Endowment loan warning: There is no guarantee that the proceeds of the [Insurance Policy / Pension Policy] will be sufficient to repay the loan in full when it becomes due for repayment