How Banks Assess Overtime Income
Banks typically assess overtime income over a three to six month period, depending on the lender. If your payslips show consistent overtime, this income can be annualised and included in your assessment.
If recent history is not available, lenders may review your previous financial year using your income statement to compare base salary and overtime earnings.
Consistency is the key factor, as irregular overtime may reduce how much income is accepted.
About author
Shehan Wijayasinghe
Accounting
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