Which type of salary structure is best for getting a mortgage

W

Woof

Registered User
Messages
10
Hi
Im moving back to Ireland very shortly and hope to buy a house within a couple of months.
I have two job offers and am wondering which is going to maximise the mortgage the bank will approve.
One job is a 43k PA. The second is 30k + 5% sales commision, where Im told I can expect to make
60k+PA. I’m just wondering can anyone advise which is best in terms of getting a mortgage.
Many thanks
 
Lenders work on base salary plus 50% of non guaranteed additional income (bonus, overtime, etc). If a significant proportion of the income is commission they normally want to see two years P60s to confirm the earnings level however if you are/were in a similar sales job previously they would take this into account. In any case you will need to complete any probationary period and be permanently employed prior to drawing down the mortgage.

Having said that I wouldn't choose a job just based on whether it would advantageous to securing a mortgage - which do you prefer?

Sarah

www.rea.ie
 
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