Mortgage application - health insurance

Sausages14

Hi all. Wasn’t sure whether to post this here or not but here goes…

I’ve recently got mortgage approval off BOI, and they included my employer’s health insurance contribution as part of my salary for the four times calculation.

I’ve also just applied with AIB, and don’t think they’re including this at all (it’s not a question on the salary cert as opposed to BOI whereby it is).

Is this just a difference of approach between banks, or do you think AIB will also include it when they see it on my payslip for Dec 2023 which shows the contribution YTD?

Thanks in advance,

a stressed first-time buyer

L1011

I don't think it should be included; its not actual income - health insurance is optional so its not like its income. I find it extremely odd that BOI did.

Marcusm

https://www.boards.ie/discussion/comment/121791037#Comment_121791037

That would depend on the employer. Some will offer a reward package where the employee gets to choose to take as cash or apply to products such as health insurance.

L1011

https://www.boards.ie/discussion/comment/121792833#Comment_121792833

I've worked in one of those places, but it was basically a €500 salary uplift if you didn't take their (awful) health insurance.

If you took the health insurance it wouldn't be mentionable on a salary cert.

Marcusm

More modernised places (or 25 years ago) would have described a total rewards package which did include it. Those places would also have offered any healthcare package. Sounds like you were offered one of th very cut price GP plans maybe? Anyway, it exists, may become more common in FDI space. It inflates salaries and thus property prices.

Sausages14

1Salary Cert _July22.pdf

Salary cert template attached just FYI