If you’re a Queensland Police officer, chances are you don’t work a standard 9-to-5 job (or the 8a to 4p as most day officers work).
Your income may vary from fortnight to fortnight depending on overtime, night shifts, recalls and other allowances.
Many police officers worry this makes it harder to get a home loan.
The good news is that shift work itself isn’t usually the problem.
The key is choosing a lender that understands how police officers are paid.
Shift work doesn’t stop you from getting a home loan
Many first home or investment buyers assume banks prefer applicants with a fixed salary and predictable income.
While stable employment is important, lenders understand that police officers are paid differently.
The challenge isn’t your shift work.
It’s how each lender assesses the additional income that comes with it.
Your payslip is more than just your base salary
As a Queensland Police officer, your income may include much more than your ordinary wage.
Depending on your role, you may receive:
- Overtime
- Operational Shift Allowance (OSA)
- Night shift allowances
- Meal allowances in overtime
- Recall to Duty payments
- Locality allowances
- Plain clothes allowance
- Stocking allowance
- Dog Squad allowance
- Other specialist allowances
For many officers, these payments make up a significant portion of their annual income.
Not every lender assesses shift work the same way
This is where choosing the right lender becomes important.
Some lenders may assess 100% of your ongoing overtime and allowances.
Others may only include around 80%.
Some lenders also require a longer history of receiving overtime before they’ll consider it, while others have more flexible policies.
That means two lenders looking at exactly the same payslip could come up with very different borrowing capacities.
Consistency is what lenders like to see
If you’ve regularly worked shifts, overtime or weekends for the past 6 to 12 months, many lenders will consider that income as part of your home loan application.
The more consistent your income has been, the easier it is for a lender to determine that it’s likely to continue.
That’s why it’s important to provide recent payslips and, in some cases, your latest income statement or payment summary.
These documents help demonstrate that your overtime and allowances are an ongoing part of your income rather than a one-off occurrence.
Your borrowing capacity could be higher than you think
Many police officers underestimate how much they may be able to borrow because they only consider their base salary.
When your ongoing overtime and allowances are assessed correctly, your borrowing capacity may increase significantly.
Choosing a lender that recognises the full picture of your income can make the difference between buying the home you want and having to reduce your budget.
Shift work shouldn’t limit your options
Working nights, weekends and rotating rosters is simply part of being a police officer.
It shouldn’t prevent you from achieving your goal of home ownership.
With the right lender, your shift work can often strengthen your application by demonstrating consistent additional income.
The key is knowing which lenders have policies that best suit police employment.
Why working with someone who understands policing makes a difference
Buying your first home is stressful enough without having to explain your payslip to someone who has never seen one before.
That’s where working with someone who understands policing can really help.
Before becoming a mortgage broker, I spent 15 years as a Queensland Police officer, including six years as a detective.
I understand:
- Rotating rosters
- Night shifts
- Meal allowances in overtime
- Recall to Duty
- Specialist allowances
- Operational Shift Allowance
- The unique challenges that come with police employment
Because I’ve been there myself, I know which lenders generally assess police income more favourably and which policies can make the biggest difference to your borrowing capacity.
Don’t let your roster hold you back
Many Queensland Police officers are surprised to learn that their shift work doesn’t work against them.
In many cases, it’s one of the reasons they can borrow more.
The key is choosing a lender that understands police payslips and assesses your income fairly.
If you’re a Queensland Police officer wondering how your shift work, overtime and allowances will affect your borrowing capacity, I’d be happy to help you understand your options and point you towards the lenders most likely to give you the best outcome.
