Non-resident mortgage with flight-hour pay counted in full: €455,000 for a flat in Munich
“Unfortunately your base salary is not enough.” When the pilot heard this sentence, he had to smile. This is a non-resident mortgage case — financed from Germany, not against it.
How was a pilot's flight-hour pay counted in full for a €455,000 flat in Munich?
The first bank counted almost only the base salary, which was less than half of the pilot's actual annual income. We presented the income development of recent years to show that flight-hour pay, long-haul allowances and bonuses were a permanent part of the income. The financing bank assessed the stability of the entire income structure and gave its commitment.
The starting position
He had to smile because his base salary did not even make up half of his actual annual income.
For more than fifteen years he had flown for a large European airline. His income consisted of a base salary, flight-hour pay, allowances for long-haul flights and various bonus payments.
For him this pay model was completely normal.
For the first bank, evidently not.
There, almost exclusively the base salary was taken into account.
The result:
The financing was rejected.
The pilot lived with his family in the French Alsace.
Professionally he travelled across several European countries and planned to buy a high-quality flat in Munich.
The flat was to be let long-term and later possibly made available to his son during his studies.
The key figures:
Purchase price: 612,000 euros; Equity: 212,000 euros; Financing required: 455,000 euros.
The financing was planned conservatively.
The monthly rental income was to cover a considerable part of the loan instalment.
Why variable income is often assessed incorrectly
Many banks work with standardised income models.
A fixed monthly salary is easy to assess.
Variable income components, by contrast, are treated very differently.
These include, for example:
bonus payments; commissions; shift allowances; flight-hour pay; on-call duties; profit sharing.
Some banks count this income in full.
Others only in part.
Some not at all.
This is precisely what creates considerable differences in financeability.
The economic reality
On closer inspection a different picture emerged.
The variable pay was by no means random.
It had been earned regularly for many years.
The average annual income was stable.
In addition, the pilot had:
high liquidity reserves; debt-free investments; long-term employment; excellent creditworthiness.
The property was convincing too.
The location was sustainably lettable.
Demand consistently high.
The analysis
Instead of merely submitting the latest payslips, the income development of recent years was presented in a comprehensible way.
This made it clear that the variable components were not an exception.
They were a permanent part of the actual income.
It was precisely this classification that was decisive for the financing bank.
The financing
After a full review of the income development, the commitment followed.
The bank did not assess the base salary alone.
It looked at the long-term stability of the entire income structure.
The financing could be implemented as planned.
What other pilots can learn from this: Pilots are often among the occupational groups whose pay is made up of several components.
This regularly gives rise to misunderstandings at banks.
Not every bank assesses variable income components the same way.
Anyone who documents their income development transparently and specifically selects financing partners considerably improves their financing prospects.
Not every high income leads automatically to a loan offer: This case shows that not every high income automatically leads to a financing commitment.
What is decisive, rather, is how banks assess variable pay components.
Anyone who presents the particulars of their income structure clearly and selects a financing partner with the relevant experience creates the best conditions for a successful property financing in Germany.
Frequently asked questions
Can pilots finance property in Germany?
Yes. Many banks handle such financings.
Are flight allowances taken into account?
Depending on the bank, variable income components can be counted in full or in part.
Does the income have to be earned exclusively in euros?
No. What is decisive is the comprehensible overall economic situation.
Is variable income fundamentally problematic?
No. It must, however, be documented in a comprehensible way.
Can investment properties be financed too?
Yes. Let properties in particular are often part of the long-term asset planning of internationally active professionals.
A similar situation? Let’s talk.
Every case with an overseas link is its own. In a free initial call we will tell you honestly what is feasible and which bank fits.
Anonymised individual case, not a guaranteeable statement for other projects · advice free · commission, as a rule, paid by the bank · §34i GewO · not legal or tax advice · no financing commitment; conditions depend on creditworthiness, lending value and bank
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Editorially responsible: Olga Nikushkina — owner, §34i GewO (German mortgage brokerage), adviser register D-W-132-ZUCB-95. Specialised in German property financing with an international dimension: non-residents, foreign-currency income, cross-border workers, expats. Siegfried Perini is entered in the German intermediary register under this licence as a person directly involved in brokerage and advice (§ 11a GewO), active in real estate since 1992. Not legal or tax advice.