All Topics / Finance / When is commission allowable income?

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of Quantum LeapQuantum Leap
    Participant
    @quantum-leap
    Join Date: 2004
    Post Count: 56
    January 22, 2004 - 1:11 pm

    Hi Folks,

    I’m about to change jobs (I work in sales with commission as part of my package) how long do I have to earn commission for before a financier will lend on it?

    Last I heard it was two years which is ridiculous!

    Cheers

    Richard

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    January 22, 2004 - 1:23 pm

    Hi Richard.
    Some lenders will take 100% of commission as acceptable income, Current pay slips showing 3 months history or an employer letter,
    Regards
    Steven

    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Victoria

    PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.

    Profile photo of Quantum LeapQuantum Leap
    Participant
    @quantum-leap
    Join Date: 2004
    Post Count: 56
    January 23, 2004 - 1:26 pm

    Thanks Steven,

    Cheers

    Richard

    Profile photo of BonbeachBonbeach
    Participant
    @bonbeach
    Join Date: 2004
    Post Count: 214
    January 24, 2004 - 10:24 am

    what lenders are they?? I am in the same situation. Have been in my job 4 months now and get $1000 -$2000 a month commission I have been told 2 years also, I would love to know of a lender that takes this extra effort (and income) into consideration.

    Also, I understand RAMS take into consideration a Car Allowance Income on top of salary is there any other lenders that can do this?

    Luke [:o)]

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225
    January 24, 2004 - 10:21 pm

    Steven has already mentioned what is possible.

    I hope I don’t sound a bit harsh when I say ‘I would think Luke, that you are asking a bit much when you want to know which lender does that’.

    When the time arrives that you are serious about getting another loan, why not put an application in via Steven ?

    It doesn’t cost you anything extra (for a normal loan)
    to lodge your application via a broker.

    Pisces

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.