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Employment and mortgage

  • 10-01-2020 12:32pm
    #1
    Trevorclever
    Banned (with Prison Access) Posts: 26 ✭


    In the near future, myself and my partner are planning to apply for a mortgage. We both will have full time permanent positions. I'm just wondering, can I include income I earn from a part time job on the side into the 3.5 times calculations? What impact will this income coming into my account on top of my normal salary have when the bank sees it? Will it be positive or negative? Thanks.


Comments

  • #2
    partyguinness
    Registered Users Posts: 8,207 ✭✭✭partyguinness


    As long as you pay your taxes on the p/t role then can only be a positive.

    Little point in under declaring your income but at the same time you should not stretch yourself if the p/t role is very sporadic.


  • #3
    Trevorclever
    Banned (with Prison Access) Posts: 26 ✭Trevorclever


    partyguinness wrote: »
    As long as you pay your taxes on the p/t role then can only be a positive.

    Little point in under declaring your income but at the same time you should not stretch yourself if the p/t role is very sporadic.

    Yeah, I'll pay self declared tax in October. It'll be about 600 euro per month from the part time role. It's a little bit complicated in that the part time role pays in dollars to paypal and then I transfer it to my account. What will the banks need to see about this role? Thanks for your help.


  • #4
    partyguinness
    Registered Users Posts: 8,207 ✭✭✭partyguinness


    Trevorclever wrote: »
    Yeah, I'll pay self declared tax in October. It'll be about 600 euro per month from the part time role. It's a little bit complicated in that the part time role pays in dollars to paypal and then I transfer it to my account. What will the banks need to see about this role? Thanks for your help.


    Just tell them the truth. Tell them about the Paypal gig.

    Remember the bank is in the business of selling mortgages- they want your business. Don't worry it is not an exam and the bank are not trying to trip you up. You are looking into it too much unless you selling porn or something and a little shy.


  • #5
    Trevorclever
    Banned (with Prison Access) Posts: 26 ✭Trevorclever


    partyguinness wrote: »
    Just tell them the truth. Tell them about the Paypal gig.

    Remember the bank is in the business of selling mortgages- they want your business. Don't worry it is not an exam and the bank are not trying to trip you up. You are looking into it too much unless you selling porn or something and a little shy.

    :D No, it's not porn or anything. It's all legitimate earnings, I just thought they might think it looks dodgy. I can explain where the money comes from and everything. Will I need to provide paypal accounts do you think? Again, thanks for your help. I'm probably worrying about it too much.


  • #6
    partyguinness
    Registered Users Posts: 8,207 ✭✭✭partyguinness


    Trevorclever wrote: »
    :D No, it's not porn or anything. It's all legitimate earnings, I just thought they might think it looks dodgy. I can explain where the money comes from and everything. Will I need to provide paypal accounts do you think? Again, thanks for your help. I'm probably worrying about it too much.


    Just tell them and they will ask you for whatever they require and take it from there.


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  • #7
    Trevorclever
    Banned (with Prison Access) Posts: 26 ✭Trevorclever


    partyguinness wrote: »
    Just tell them and they will ask you for whatever they require and take it from there.

    Ok, thanks.


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