35 - Unlocking How Banks Assess PAYG, Overtime, Bonus & Allowance Income

Income is one of the biggest drivers of your borrowing capacity, but banks don't just look at how much you earn. They look at how you earn it and depending on your situation, the same salary can produce very different results at different lenders. In this episode, Jack Elliott and Chris Bates go deeper into how banks assess different types of PAYG income. They break down what happens if you've recently changed jobs or you're still on probation, why overtime and allowances are treated differently depending on your industry, how commission and bonus income gets shaded by lenders, and what banks look for when you're working a second job or planning to go on parental leave. They also share a real example where choosing the right lender policy added $65,000 to a first home buyer's borrowing capacity, showing just how important lender choice can be. In this episode: 🔑 PAYG income and what happens if you've recently changed jobs or you're on probation 🔑 Overtime and allowances and why the lender you choose can make a big difference 🔑 Commission and bonus income and why the bank doesn't take the full amount 🔑 Second job income and what the banks are really looking for 🔑 Parental leave and what you need to have in place to move forward Timestamps 00:00 - PAYG Income - How Banks Assess it 01:50 - PAYG Requirements, Job Changes & Probation 06:50 - Overtime and Allowances 10:39 - Commission and Bonus Income 12:52 - Second Job Income 14:34 - Parental Leave: Can You Still Borrow? 15:51 - Wrap Up and Final Thoughts Unlock your Free Resources Download Your How Banks Assess PAYG, Overtime, Bonus & Allowance Income Resource: https://firsthomeunlocked.com.au/reso... Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community:   / firsthomeunlocked   📅 Book a chat with Jack for tailored support: https://calendly.com/jackelliott-alco... 📱Follow Us on social media: Instagram:   / firsthomeunlocked   TikTok:   / uc6n1qn33fd128vli5tw2naq   https://www.firsthomeunlocked.com.au #firsthomebuyer #australianproperty #homebuyingguide #mortgageadvice #propertystrategy #firsthomeunlocked