Salary and wages
Regular salary or wages are usually supported by employment and pay evidence, but lenders still check tenure, probation, deductions, changes, and whether the income will continue.
Overtime, bonus, and commission
Variable income may need a history, employer confirmation, payslips, or other evidence. Each lender decides whether and how it uses an amount; do not apply one averaging rule universally.
Casual, contract, and multiple jobs
Irregular or newer work can raise questions about continuity, hours, contracts, tax, and the evidence period. Keep agreements, invoices, payslips, and bank credits consistent.
Boarder, flatmate, rental, and benefit income
Secondary income may be assessed differently from wages and may be discounted, capped, evidenced, or excluded. Explain the arrangement, costs, tenancy or payment evidence, and what happens if it stops.
Business income
Turnover, taxable profit, drawings, retained earnings, debt, tax, and current trading answer different questions. Provide the records the lender or adviser requests and explain changes rather than hiding them.
Make the story legible
List every income source, owner, frequency, gross and net amount, evidence period, and foreseeable change. Ask the receiving lender how it wants each source described before assuming it will count.
Evidence categories to organise
- Employment agreement and tenure
- Payslips and bank credits
- Overtime, bonus, and commission history
- Casual or contract records
- Boarder, rental, or benefit evidence
- Business accounts and tax records
- Expected income changes
This guide is general information only. MoreGage does not provide regulated financial advice, a lending assessment, approval, or an offer.