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Purchased leave - how does it affect serviceability?

Discussion in 'Property Finance' started by EN710, 18th Mar, 2016.

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  1. EN710

    EN710 Well-Known Member

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    Just curious.

    Hubby company and mine has option to 'purchase' additional 2 weeks leave (50/52 scheme).

    Does this affect serviceability in general? The after tax salary reduction is about 2000 a year spread across the year - refunded if unused.
     
  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    Can't really use it because you can't demonstrate that this component of income is ongoing.
     
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  3. Simon Moore

    Simon Moore Mortgage Broker - Melbourne Business Member

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    It does not make a difference for most banks. Instead of sending them a payslip just get a letter from you employer with your gross salary in it. Even though you payslips have reduced income the banks will accept the letter from your employer :)

    Hope that helps!
     
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  4. EN710

    EN710 Well-Known Member

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    :) thank you