How banks assess your commission income

If a large portion of your income is commission income, how do banks assess your income? For commission earners, it’s really important that you log into the IRD website, and download your IR3 Summary of Earnings for the last two years. This allows us to get the average for the last two years.

Each bank works off a certain percentage of what they will allow us to use of your commission, and this is where it’s really important to speak to a mortgage broker. If your day to day bank doesn’t calculate and use a lot of your commission income, then you might be better off with a bank that does.

If you are earning really great money, but the bank isn’t giving you the approval that you think you should have, get in touch with me and we will approach the perfect bank for your situation. Ryan Amoore, 021 662 205 or email