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Is shift and overtime taken Into consideration when determining what you can afford

  • 22-05-2022 11:48am
    Registered Users Posts: 387 ✭✭ KurtBarlow

    Or is it just based on your gross Basic wage?


  • Registered Users Posts: 387 ✭✭ KurtBarlow

    Sorry I meant to include mortgage in thread title

  • Moderators, Education Moderators Posts: 4,881 Mod ✭✭✭✭ G_R

    Depends on the lender's criteria. Some will take 50%, some 33%, some none.

    Some will need to see it over 3 years, some just over the most recent year.

  • Posts: 0 [Deleted User]

    I'm open to correction here but " back in the day" it was solely based on contracted wage..... shift + ot + bonuses don't in they're too " abstract / variable"

  • Posts: 4,727 ✭✭✭ Amanda Uninterested Mockingbird

    Its based on your guaranteed income. Things like bonus and overtime are not normally guaranteed.

    But if you can show a few years of P60's were you earned more than your basic wage, they might be willing to take some part of that into account.

  • Registered Users Posts: 328 ✭✭ Dublinandy3

    Our bank took the average over 3 years and have us 50% of the value towards our income amount, that was bonuses included. I think, as said previously, it differs from institution to institution though

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  • Registered Users Posts: 65 ✭✭ frank730

    BOI took 3 years average when calculating my bonus

  • Registered Users Posts: 17,551 ✭✭✭✭ Thargor

    AIB in Limerick took all my shift work and guaranteed overtime and bonus into account like it was my standard wage, was happy and surprised with that. Quickly wiped out by price rises to the point I rarely bother even looking now though. You'll just have to ask them.