Flight pay and mortgages

[Eurotraveller]

Firstly this is a bit difficult to place so apologies if this is in the wrong forum.

I am a first time buyer considering making a first step on the property ladder and am about to go and see a mortgage advisor to see how much I am likely to be able to borrow.

I'm trying to do my own provisional research before I go; I understand 'bonuses'/overtime can be considered as well as you salary to increase the amount you can borrow. I wondered whether monthly flight pay, being separate from salary, also boosts the borrowable amount? Although obviously it will vary from month to month, can you declare it as income for the purposes of borrowing?

Thanks in advance for your help,
Eurotraveller

[Intruder]

ONLY declare steady income. Do NOT declare bonuses or overtime that you cannot depend on. otherwise, you're MUCH more likely to lose your house.

[Piltdown Man]

I'll go along the same line as Intruder. I purchased my house in a rising market (10 years ago). With hindsight, you could have said that I under-bought, as I may have been able to purchase a larger house and would have had a greater value of equity now. But I can tell you I was able to purchase insurance, finance a pension, buy nappies, go on holiday, furnish the house etc. all without the nagging doubt that if I was ill or suffered an injury I would still be able to afford my mortgage.

Declare the flight pay by all means, but don't rely on it.

PM

[Checkboard]

I had a standard letter drawn up by the Human Resources department outlining my pay. The letter stated my salary, and my flight pay - and that as flight pay was guaranteed for each hour I worked, that the pay could be considered part of the total.

[ab33t]

For security I would not depend on the flight pay , stick to the salary as you could end up with more than you could pay and loose your house .

[n90bar]

Just sorted out a second mortgage - My advisor and ultimately the bank has always allowed me to use 50% of my allowances towards a mortgage borrowing figure - they apppreciate that aslong as i am working i.e employed - then i will receive flying allowances. just my thoughts