Is the 2.5x multiplier a pre or post tax guideline?
pre… tax is an expense like any other.
But it works in my favour that many or the kinds of applicants I get often calculate it as post. In any case, the six months of bank statements I’ll subsequently get will show just how much is actually coming in. Of course, if the applicant is self-employed, I’ll bear in mind that their tax/NI bill is likely to land annually and make sure their balance can withstand that.
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My rent is 2 3rds if my income never missed a months rent in 6 years. Rent has to be priority because without a home you can’t cook, sleep, bath, or just relax so it trumps everything x
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