How are secondments treated?

Discussion in 'Property Finance' started by Ian87, 8th Jan, 2019.

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  1. Ian87

    Ian87 Well-Known Member

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    meant to ask this in my earlier question. My wife is currently on a secondment with a big pay increase. The contract is 6 months. How is this treated by the banks? Do they just go off the original contract or if you don’t tell them it is a secondment do they not ask?

    Thanks.
     
  2. Redom

    Redom Finance Strategist Business Plus Member

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    In this credit climate, this will likely be taken at her return to base income. Like 'temporary' higher duties that teachers often do. If this is on the payslip and comes out that way, its usually not taken.

    May be some lenders that take it though (on exception).
     
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  3. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    I agree with @Redom, I hope you haven't increased your living expenses in line with the additional income!
     
  4. Ian87

    Ian87 Well-Known Member

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    Nope. Still a tightwad.
     
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  5. jazzsidana

    jazzsidana Mortgage Brokers - Investment Savvy Business Member

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    Winning strategy if building a portfolio from serviceability perspective :)

    And agree with others!.