additional duty hours
- periods worked by staff within the NHS which, whilst not part of their basic salary, are virtually a permanent feature of their pay. Previously known as Units of Medical Time (UMT).
attendance allowance
- payments receivable as a result of attending meetings, such as those paid to local counsellors or members of the House of Lords.
Car Allowance
- a payment made to an employee in lieu of the employer's providing a company car.
DSS payments
- income received from the Department of Social Security towards the payment of a mortgage. These are used by a lender only in exceptional circumstances to confirm ability to service a loan.
guaranteed earned income
- any income received on top of your basic salary that is not part of your normal basic pay under the terms and conditions of your employment but which you are guaranteed to receive.
investment income
- income received from investments. This could be from rental income on investment property, dividends on equities or interest on deposits with financial institutions.
irregular
- additional income over basic salary that is of an erratic nature; additional payments to which the employee may be entitled but which are not received on a regular basis.
large town allowance
- additional portion of salary payable to an employee to compensate for the additional expenses incurred as a result of working in a major conurbation. In theory the payment is made to cover either increased housing or commuting costs and is normally considered as part of basic income when applying income mulitpliers.
maintenance payments
- money either paid or received under a court order in respect of a previous partner or child.
mortgage subsidy
- a payment made by an employer to subsidise the cost of interest payments on a home loan. The amount and extent of the subsidy will vary from employer to employer and these can be calculated in a variety of different ways. It is advisable to seek a specific statement from your employer on the operation of the arrangement.
non contributory pension
- pension scheme provided by an employer into which the employee makes no payments.
regular income
- payment which is not guaranteed but is still a regular part of an employees remuneration. Lenders will normally wish to see evidence of such payments being made on a regular basis, e.g. payslips or P60s covering a period of months or years. See also: guaranteed income.
rent allowance
- payment received from an employer to be used towards the cost of accommodation.
secondary jobs
- sources of income other than an individual's main employment.
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