How we assessed cabin-crew income for a 95% mortgage

The client, referred to throughout as Mr S from Stevenage, was a first-time buyer aged 27 employed as long-haul cabin crew with a major UK airline for three and a half years. He had a 5% deposit gifted from a parent and wanted a £280,000 property.

Basic PAYE salary was £24,000. Additional pay elements totalled £11,500 across the previous 12 months, split roughly as £6,200 flying pay, £3,100 per-diem allowances and £2,200 sector/overtime pay.

On basic pay alone the client could borrow around £108,000 — well short of what a £280,000 purchase needed at 95% LTV (£266,000 loan). Treatment of the additional pay elements varied dramatically by lender, and the client had already been declined by his own bank on the basis of basic salary only.

• Lender A — 100% of flying pay, 100% of overtime, 0% of per-diems. Evidence: 3 months' payslips + last P60.
• Lender B — 50% of all additional variable elements averaged over 12 months.
• Lender C — basic PAYE only; no additional pay considered.
• Lender D — 100% of flying pay if evidenced on the P60, per-diems excluded.

We requested the client's last two P60s and the most recent three payslips. That confirmed flying pay of £6,200 (averaged over 12 months and evidenced on the P60) and sector/overtime pay of £2,200. Per-diems appeared only as expense reimbursements on payslips — not on the P60 — so we assumed they would be discounted.

Using Lender A's criteria, assessable income became £24,000 + £6,200 + £2,200 = £32,400. That produced a maximum borrowing capacity of ~£178,000 — still short. We then combined the application with the client's fiancée, employed as an NHS administrator on £27,000 basic PAYE, taking joint assessable income to £59,400 and comfortably clearing the £266,000 loan on that lender's income multiple.

The application was submitted to Lender A. Decision-in-principle was returned inside 24 hours. Full offer followed 11 working days later at 95% LTV on a 5-year fixed product. Total broker fee: £199, agreed in writing before application.

• Get last two P60s before you speak to a broker — they are the key evidence.
• Separate expense reimbursements from taxable pay. Only taxable pay is normally usable.
• Don't accept a decline on basic salary alone. Lender selection is often decisive.
• If your partner has stable PAYE income, joint application is nearly always stronger.