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Mortgage Approval on Jobs with High Commission Roles

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  • 27-04-2017 8:38am
    #1
    Pivot Eoin
    Registered Users Posts: 564 ✭✭✭


    Hey all,

    Wondering if anyone can shed some light on this.

    I'm single 29, and starting a new position which is probably balanced 50/50 Basic Commission.

    For mortgage level approval, would they approve me based on my base? or Based on OTE? Or would they only factor in guaranteed earnings? I am just back in the country after spending time in Canada, so the next 6 months will be my 6 months of Bank Statements proof. Will they maybe base this as a median of my earnings, the next 6 months?

    Any input appreciated. Thanks.


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    #2
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    It will depend on the bank and the exact wording of the salary cert.

    Ulster bank put me through the absolute ringer and we ended up deadlocked between me and my employer over one word. KBC took some percentage into account, other banks were unwilling to look at it at all.

    Broker AND/OR do your own research.


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    #3
    Pivot Eoin
    Registered Users Posts: 564 ✭✭✭Pivot Eoin


    Samuel T. Cogley wrote: »
    It will depend on the bank and the exact wording of the salary cert.

    Ulster bank put me through the absolute ringer and we ended up deadlocked between me and my employer over one word. KBC took some percentage into account, other banks were unwilling to look at it at all.

    Broker AND/OR do your own research.

    Oh wow, sorry to hear that man. If you could give any advice as to how i should structure the wording - as I havent officially signed contract yet.


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    #4
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    Pivot Eoin wrote: »
    Oh wow, sorry to hear that man. If you could give any advice as to how i should structure the wording - as I havent officially signed contract yet.

    It was all grand in the end, just didn't go with UB. I can't remember which was the magic word I'm afraid :(

    It came down to 'incentive' 'commission' or 'bonus'. I can't remember which one they wanted but to be fair the underwriter was quite happy to tell me (through the bank manager) it was my lot being typically Scottish and awkward.


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