Meet Rebecca
29, Project manager

Project manager by day, engineering officer in the RAF Reserves alongside. Contractual pay rise awarded but not paid for three months. Buying a first home with her partner.

She's got the income. The payslips just haven't caught up yet.

A joint first time buyer purchase at 6.5x loan to income, where the affordability only works if a pending pay rise and a second job are both recognised.

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Rebecca Headshot
Memo

Application type

Purchase & First time buyers

Deposit Money

Property & deposit

£320k, 10% deposit, joint

Piggy Bank

Income source

Employed, future pay rise, second job

Broker House

Range

Make it Possible

6.5x loan to income using a pending pay rise and second job income

Her pay rise is contractually agreed but won't show on a payslip for three months, and her second income sits outside her main employment. At a standard 4.5x income cap, with only the current payslip counted, the property is out of reach.

Under our Make it Possible range we support up to 6.5x loan to income, consider contractually agreed future pay rises, and use 100% of established second job income. Together, that turns a decline into a case we can look at.

A breakdown of the case

Rebecca's situation
Why this can be hard to place

Rebecca works as a project manager and also holds a second job as an engineering officer in the RAF Reserves. She's buying her first home with her partner.

She's been awarded a contractual pay rise in her main role but won't receive it for another three months, so her current payslips understate her income.

To afford the property they want, the couple need a lender who can use up to 6.5x loan to income and recognise both of Rebecca's income streams.

How Nottingham Building Society would consider this case

We would look at three things:

  1. whether the pay rise is contractually confirmed
  2. whether the reserves income is established and regular
  3. whether the combined affordability supports lending at 6.5x loan to income.

Element What we see in this case How we would treat it
Main employed income Project manager, current payslips showing pre-rise salary. Assessed on the contractually agreed new salary rather than the current payslip.
Future pay rise Awarded in writing, effective in three months. Contractually agreed future pay rises considered for affordability and must be evidenced by an employers reference.
Second job income RAF Reserves engineering officer, regular and ongoing. 100% of established second job income used in the affordability assessment.
Loan to income Combined income supports the required loan at up to 6.5x. Make it Possible supports lending up to 6.5x loan to income, subject to affordability and criteria.
Deposit 10% & joint. Standard evidence of deposit source.

Eligibility assessment table

What makes this possible?

  • Our Make it Possible range supports up to 6.5x loan to income.
  • Contractually agreed future pay rises considered.
  • 100% of established second job income used for affordability.
  • Reserves income treated as second job income.

Got a case like Rebecca's?

Someone whose earning power is already there but hasn't caught up on paper, a pay rise agreed but not yet paid, a second income that sits outside her main job, and a first home that's just beyond what a standard multiple allows.

Nottingham Building Society recognises the income your client actually has, not just the payslip in front of you.

Explore our Make it Possible range to see how we can help your client's case.

 

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Rebecca Headshot
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What you would need to submit

The quicker we can see the whole picture, the quicker we can give you a decision. For a case like Rebecca's:

Two Colleagues Looking At Screen
  • Core income - Latest payslips and bank statements for the main employment.
  • Pay rise proof - Employer letter or contract variation confirming the pay rise amount and effective date.
  • Reserves pay - Evidence of the Reserves income over an established period, with matching bank credits.
  • Joint application - Partner's income evidence.
  • Deposit position - Evidence of deposit.

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For full criteria information and packaging requirements.

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