Are any banks offering more than 3.5x excpetions?

Swampy

Hi all,

As the title says are any lenders taking exceptions (based on commission etc) to go above the 3.5x base salary guidelines?

Thanks,

S.

Creamy Goodness

Swampy wrote: »

Hi all,

As the title says are any lenders taking exceptions (based on commission etc) to go above the 3.5x base salary guidelines?

Thanks,

S.

As in sales commission, in your take home pay? It won't be classified as guaranteed income but they may use a portion of it depending how regular you can show them you get it.

Best way to know for sure is talk to all the banks or a broker, only they will have the definitive answer

Swampy

Thank you. Yes , sales commission. Wasn;t sure it it was precluded by to the ban on exemptions by the Central Bank.

ongarite

Depends on your basic salary too. A higher earner is more likely to get an exception.

Creamy Goodness

Swampy wrote: »

Thank you. Yes , sales commission. Wasn;t sure it it was precluded by to the ban on exemptions by the Central Bank.

There's no ban on exemptions, banks may be even more picky now than ever but there are people still getting them.

Unfortunately banks like guaranteed income for the purpose of how much you can borrow rules, even annual bonuses are not taken into account unless they are marked as a guaranteed bonus and even at that some banks have different rules. AIB for me would take 50% of my bonus if I could prove I got it for the last three years, I was only in the job for 2.5 years at the time so I couldn't.

ms vieria

Creamy Goodness wrote: »

There's no ban on exemptions, banks may be even more picky now than ever but there are people still getting them.

Unfortunately banks like guaranteed income for the purpose of how much you can borrow rules, even annual bonuses are not taken into account unless they are marked as a guaranteed bonus and even at that some banks have different rules. AIB for me would take 50% of my bonus if I could prove I got it for the last three years, I was only in the job for 2.5 years at the time so I couldn't.

BoI recently took my un-guaranteed bonus for the last 3 years at full value. I am in my job 10 years and have received similar % bonus each year. For us it was
Salary + BIK + Bonus x 3.5.

AssaultedPeanut

Swampy wrote: »

Hi all,

As the title says are any lenders taking exceptions (based on commission etc) to go above the 3.5x base salary guidelines?

Thanks,

S.

Ulster Bank if you have a 20% deposit.

ec18

yes ulster bank offered an exemption to us, mainly based on size of deposit and savings history. But then again they're probably leaving the market so.....

FYI atm Ulster bank aren't counting any non guaranteed salary atm. (told me included bonus's/commission and overtime)

brianc27

ms vieria wrote: »

BoI recently took my un-guaranteed bonus for the last 3 years at full value. I am in my job 10 years and have received similar % bonus each year. For us it was
Salary + BIK + Bonus x 3.5.

My full shift allowance and overtime was taken in full because I could prove I've gotten it regularly (as in every week), they may of even taken my full bonus too