There is no scope in the macro prudential legislation to have any different treatment for LTI maximums.Lenders seem to auto-calculate all gross as taxable regardless of status which weakens any application.
OK so even if I grossed-up to use as equivalent it wouldn't fly? Tried a broker a while back who charged me 500 quid upfront and then did sweet FA after I uploaded all docs so they were out of date by the time they finished asking for them! So was hoping going direct to banks armed with more accurate numbers from the get-go might work better.There is no scope in the macro prudential legislation to have any different treatment for LTI maximums.
For banks internal underwriting and stress testing, your net monthly salary comes into play, so they should be requesting bank statements to see your net pay.
As you've got a non standard scenario, I'd recommend using a competent broker, and they can provide a cover letter to your application explaining the scenario.
Isn't that just misstating the income you did receive? If you receive €1,000 which isn't taxed for whatever reason, you can't write down that you received say €2,000 without risking an accusation of fraud.OK so even if I grossed-up to use as equivalent it wouldn't fly?
But you can't prove that income when asked?OK so even if I grossed-up to use as equivalent it wouldn't fly?
Isn't that just misstating the income you did receive? If you receive €1,000 which isn't taxed for whatever reason, you can't write down that you received say €2,000 without risking an accusation of fraud.
No. "Income" is relevant.So it's only taxable income that's applicable then?
No. "Income" is relevant.
You have a non standard scenario which you need to explain to the lender. There's no point making up figures