Can someone tell me how help to buy works

Creamy Goodness · 02-01-2022 9:25pm

Nope, all banks have a salary certificates that need to be filled out by your employer in tandem with your payslips and your Employment Detail Summary (P60)

L1011 · 02-01-2022 9:26pm

https://www.boards.ie/discussion/comment/118407454#Comment_118407454

The reason they specifically ask for a salary cert is so that bonuses etc can be excluded. Payslips may not and particularly the P60 will not break down the income sources.

The_Conductor · 06-01-2022 8:50am

https://www.boards.ie/discussion/comment/118407454#Comment_118407454

No- you will need to provide a salary certificate from your employer, specifically outlining your core salary, exclusive of any bonuses, overtime or non-guaranteed income.

Enough lenders got seriously burnt by people counting all sorts of income in 2009- they learnt their lesson, and won't make the same mistake again.

Galwayhurl · 06-01-2022 1:24pm

https://www.boards.ie/discussion/comment/118402446#Comment_118402446

While you can't presume that the overtime will be multiplied by 3.5, ICS mortgages say the following:

Private Sector Employees:

Basic income plus contracted allowances will be the only income factored in for Loan-to-Income purposes.

In exceptional circumstances, where the employment sector has not been impacted by COVID-19, 50% of overtime and 25% of bonus or commission may be considered, which will be based on the average over the last 3 years or pro rata where the employment is less than 3 years

Public Sector Employees:

Income for applicant(s) will be considered to be two points up their current Pay Scale

With regard to non-basic income the following will apply

Overtime: Up to 100% of regular overtime earned may be factored into our assessment if the employer confirms it is regular on their salary certificate.

Allowances: 100% of contractual allowances will be factored in if the employer confirms it is guaranteed and is evident on the most recent EDS and on target income for current tax year

Eclectic Dan · 06-01-2022 1:33pm

I'm a year back working in Ireland, having worked abroad for the last decade or so. As I understand it, I'll need 4 years of PRSI contributions before being eligible for HTB (if it still exists by then)?