Are my overtime hours included in the calculation to borrow money?

The summer is coming. Traditionally a period in which many people work overtime to fill in the hours of colleagues on vacation. With overtime you receive extra money and there are no major backlogs at work.

We get the question almost every day; ‘Do you also include income from overtime in the loan calculation’? I still get this money in my account every month ‘. In this article we will address this question.


Structural overtime


Do you work overtime so that your colleague can go on holiday? Or do you work overtime every month? Like an international truck driver, for example. The most important rule when taking overtime is that the overtime must be structural.

A bank must adhere to rules when granting a loan. For example, providing a loan must be justified. Providing money on the basis of an income that is not available every month, such as a substitute for a colleague, is too risky. The risk that you cannot pay the loan without this income is then too great.

In the case of overtime that you can demonstrate with a number of payslips that you receive this each month, (part of) your calculation will be included in the loan calculation.


How many overtime hours are included in the calculation?

How many overtime hours are included in the calculation?

How much of your structural overtime is included in the calculation for your loan differs per bank or financing company. This is because banks and financing companies are allowed to apply different conditions for this.

In most cases, at least 50% of the income from overtime is included. For international truck drivers that is even 100%. The overtime in these cases is maximized at 8 overtime per week.

Licia Financing has recently started working with a financing company that, regardless of the profession, wants to take 100% of the income from overtime with them. Of course, provided that this is structural.


Licia Financing is a specialist in overtime

Licia Financing is a specialist in overtime

Do you want to know exactly how much of your income from overtime is included in the calculation for your loan? Then contact Licia Financing. One of our credit specialists is happy to help you with this. This way you know for sure that your income is calculated correctly so that you are always offered the correct loan amount at the lowest possible interest. Of course we do that for you completely free and without obligation.

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