Basic Pay – Basic pay will now be taken as two points up in the pay scale when applying for a mortgage. You will now be assessed with a higher wage on your application.
Overtime – 100% of overtime completed by public sector employees in the previous year can be included in the basic wage.
Probation Period – In the case of probation periods this will include existing public sector employees promoted or transferred on 12 months’ probation. Whereas new entrants will be determined on a case by case depending on their employment history.
Contractual Allowances – 100% of your contractual allowances can be applied. This will mean you will be able to take out a larger mortgage if needed.
Gift – 100% of the deposit can be gifted provided repayment capacity is evident.
Maximum Age – The maximum age at mortgage expiry has increased up to 70 and no proof of pension is required and there can be up to 4 individuals per application which will give more flexibility for applicants.