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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Income, Treatment - Other Income

Basic Income/Contract Type Acceptable Income Y/N Amount to be Keyed Amount used for Affordability
Attendance Allowance Y 100% 60%
Additional Duty Hours (ADH)* See note Y 100% 60% where non-guaranteed 100% where guaranteed*
Adoption Allowance Y 100% 60%
Adult Disability Payment (ADP) Scotland only
Y 100% 60%
Bursary Y 100% 60%
Carers Allowance Y 100% 60%
Constant Attendance Allowance Y 100% 60%
Child Benefit (0% if individual client earns more than £60,000) Y 100% 60%
Scottish Child Payment (SCP) Scotland only
Y 100% 60%
Child Disability Payment (CDP) Scotland only
Y 100% 60%
Child Tax Credit Y 100% 60%
Disability living Allowance Y 100% 60%
Employment & Support Allowance Y 100% 60%
Flexible Benefit Y 100% 100%
Flight Pay/Allowance* See note Y 100% 60% where non-guaranteed 100% where guaranteed*
Foster Care Allowance (We will only use the amount used for tax purposes as income, therefore if the customer does not pay tax this income cannot be used.) Y 100% 60%
Guardian Allowance Y 100% 60%
Industrial Injuries Disablement Benefit Y 100% 60%
Maintenance (as other income) Y 100% 60%
Mortgage Subsidy Y 100% 60%
NHS Bank* See note Y 100% 60% where non-guaranteed 100% where guaranteed*
Other (Includes Seasonal and Piecework) N 0% 0%
Personal Independence Payment Y 100% 60%
Pension - Credit Y 100% 100%
Pension - Private where the customer has less than 10 years until retirement (including company/occupation - Drawdown Pensions not Acceptable) Y 100% 100%
Pension – Private where the customer has more than 10 years until retirement 
Y £1 0%
Pension - State Y 100% 100%
Pension - War Disablement Y 100% 100%
Pension - War Widower Y 100% 100%
Savings/Investments/Trust Income N 0% 0%
Shift Allowance* See Note Y 100% 60% where non-guaranteed 100% where guaranteed*
Stipend Y 100% 60%
Widowed Parent Allowance (including Widow's Pension) Y 100% 60%
Working Tax Credits Y 100% 100%

 

*Please note: For additional duty hours, flight allowance, NHS bank (to be keyed under nursing bank) or shift allowance we will average the last 3 months payslips (last 6 where paid fortnightly or last 12 where paid weekly).  Provided that each payment is within 10% of the average we will allow 100% of the income, otherwise we will allow 60%.

Example - Month 1 £95, Month 2 £100, Month 3 £105.  Total income £300, average £100pm.  As each payment is between £90 (10% below average) and £110 (10% above average) we can treat as guaranteed.  If one of the payments was below £90 or above £110 we would treat as non guaranteed even if the total income across the 3 months was the same.

All the income types listed above require a main income to be keyed into Mortgage Pro for the affordability calculation, with the exception of Disability Living Allowance & Retirement Income.

Where there is a strong business case to consider a standalone income listed above, this can be referred to Underwriters for consideration.

Affordability must also include any known future changes to income. Please refer to Future Changes, for more information on when the known future changes should be reflected within income.