Basic annual income
The amount of money that is earned which is guaranteed regardless of how the
employee or the company performs.
This amount of money will be before any shift allowance, bonus, attendance
allowance or overtime is added.
Lenders are very particular when it comes to basic income/pay, as it is what all
subsequent employee benefits are based on ie. Company sick pay and redundancy
etc. not your total gross income as shown on your pay slip.
With this in mind lenders are happy to lend on the extra monies generated but at
different income multiples.