A key part of a Home Loan application is the assessment of acceptable income. Different lenders have differing policy on, to name a few, bonuses, overtime, regular overtime, and allowances. Aviation Professionals such as Pilots, Engineers, and Flight Attendants have various forms of payments which can be unusal to other industries - such as DTA, Duty Meal Allowances, Overnight Payments, Layover Allowances, 'Day Off' payments, Check or Training additions to salary.
To ensure any application outcome is as expected it is important to have the correct income information included in your Home Loan application. By ensuring that every part of your acceptable income is included in the application you can maximise your borrowing capacity, and also strengthen your overall application.
A Pilot's career can take them all over the country, even the world. It's important to stay ahead of the changes to your personal circumstances and manage your finances accordingly. This can include choosing a bank that supports Home Loans for Australian Citizens living overseas. For more information click here.
Although no longer available, In recent times there was also an offer specific to Aviation Professionals for 90% LVR (10% deposit) Home Loans without any LMI. This created a great opportunity for our clients to enter the property market or purchase a bigger home without incurring the usual costs, in some cases saving thousands.
By using the services of a Prefix Finance Mortgage Consultant you make sure you don't miss out on any Aviation related offers and most importantly, maximise the opportunity to borrow the money you need. If you would like more information you can contact us here.