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fluctuating income over a year - will it affect mortgage application

(3 Posts)
pastaofplenty Fri 20-Nov-15 07:09:55

Not so much fluctuating more higher salary than normal.

I am hoping to apply for a mortgage within the next 6 months however my salary will be at a much higher rate over the next 10 months (temporary promotion).

It will then drop down to an amount between what I am on now and my raised salary (but not agreed final figure yet with HR). My permanent salary scale won't be determined for at least ten months.

Will lenders take this into account or will I have to wait until after the ten months to apply?

I could apply on the much higher salary (know I could afford repayments) however would this be seen as fraud or failure to disclose information?

Does anyone have experience of this?

If it helps - it is a permanent job in the public sector and pretty secure.

chocoshopoholic Fri 20-Nov-15 07:18:08

I remortgaged in July. I used my substantive post salary in the application form and on the copy of payslips wrote that my pay didn't match as I was seconded to a managers maternity cover role.

pastaofplenty Sat 21-Nov-15 12:58:55

Thanks Choco - good to know it's not that unusual

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