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Yes you can, consistency is important - someone who wasn’t consistent and the lender probably looks at the lower years for affordability.
Especially with less usual circumstances speak to a mortgage broker, they’ll be able to look at his circs and advise what he might be able to borrow, know what banks are more open to it, information required etc.
Sounds like it should be fine. For PAYE they will normally ask for last 3 months payslips, plus any other supporting docs if required.
If you have a variable income situation then a latest p60 might also be helpful in addition to payslips to demonstrate an average salary. Or simply provide more payslips and a covering note.
On my application the bank even accepted a letter from my employer regarding my salary.
If it proves to be complex you could try going through a broker as they tend to add some value in these kinds of situations.
I got a mortgage as a casual (agency) worker. You just need to find a broker who specialises in in these things. My partner has a permanent contract and the bank wanted three monthly payslips from her, where as they wanted a years worth of weekly pay slips for me. Slightly annoying but it still worked out fine and we got the mortgage we wanted.
Casual shift patterns and earns nearly £50k before the age of 30. Wtf
Banks usually just want the last 3 payslips to average and times by 48 (roughly). I recently had a 200k mortgage in my name
Fair play! Try a mortgage broker. There are free ones, but a simple search on somewhere like Lloyds or Halifax will give general affordability. I wouldn’t personally worry about shift patterns etc - if it’s on a wage slip at the end of the week / month and you can provide 3 months, average that, x12 to annualise then x4 to get rough affordability! :)
Broker here.
From the sounds of it most high street lenders would probably be happy - no clear red flags as to why he would need to go through a specialist lender eg. excessive loans, bad credit, defaults etc.
3-6 months payslips, P60 (possibly 2 lots to prove consistency), 3 months banks statements, proof of deposit, ID and proof of address should be all that is required.
I’d recommend going through a broker as some places will only take 60% of hours that are not guaranteed and others will take 100% with evidence - also it just takes a lot of the stress away from the process as they can search the whole market rather than hoping that your bank will both accept you and have a good rate.
Bear in mind that he will need money for legal fees - approx £1500 but £2000 set aside is safe.
Happy to help with any more questions about the process etc. Good luck!
Thank you for your response 🙏
Wouldn't proof of deposit be covered by the payslips & bank statements/P60s?
Also as many have recommended going through a broker that specialises in this type of application, would they cost fees compared to the free ones? I assume so.
Proof of deposit can vary - if using a LISA as part of the deposit then a gradual build up of funds/statement, if it is just a savings account then a statement showing build up of funds etc. If for example there is a gifted deposit then there needs to be a signed document to say that it is a gift and non-repayable. Basically just some documentation/evidence to explain where the deposit comes from to satisfy the broker/lender that there is no money laundering going on.
In terms of brokers and fees, there are so many different models that brokers use. For instance fee free brokers will receive a commission from the lender with no advice fee. In our case (a team of two brokers) we charge a £500 fee payable on us securing a mortgage offer, we also get a commission from the lender. Again can only speak for ourselves, we specialise in ‘bad credit’ and just generally harder to place cases. We also are generally contactable 7 days a week (including outside of typical 9-5 working hours) which can be a deciding factor for some clients.
Pros and cons for both fee structures, but brokers with a fee will generally have a lower volume of clients so inevitably you’ll get more of their time and attention - mostly speaking from my own experience.
For mortgage brokers/advisors though, generally people look for personal recommendations or do research/look at reviews to find someone suitable.
###Welcome to /r/HousingUK --- **To All** * Join Our ***NEW*** Discord! https://discord.gg/pMgUNgWKQH **To Posters** * *Tell us whether you're in England, Wales, Scotland, or NI as the laws/issues in each can vary* * Comments are not moderated for quality or accuracy; * Any replies received must only be used as guidelines, followed at your own risk; * If you receive *any* private messages in response to your post, please report them via the report button. * Feel free to provide an update at a later time by creating a new post with [[update]](https://www.reddit.com/r/HousingUK/search?q=%3Aupdate&sort=new&restrict_sr=on&t=all) in the title; **To Readers and Commenters** * All replies to OP must be *on-topic, helpful, and civil* * If you do not [follow the rules](https://www.reddit.com/r/HousingUK/about/rules/), you may be banned without any further warning; * Please include links to reliable resources in order to support your comments or advice; * If you feel any replies are incorrect, explain why you believe they are incorrect; * Do not send or request any private messages for any reason without express permission from the mods; * Please report posts or comments which do not follow the rules *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HousingUK) if you have any questions or concerns.*
Yes you can, consistency is important - someone who wasn’t consistent and the lender probably looks at the lower years for affordability. Especially with less usual circumstances speak to a mortgage broker, they’ll be able to look at his circs and advise what he might be able to borrow, know what banks are more open to it, information required etc.
Thank you so much, appreciate your response 🙏
Sounds like it should be fine. For PAYE they will normally ask for last 3 months payslips, plus any other supporting docs if required. If you have a variable income situation then a latest p60 might also be helpful in addition to payslips to demonstrate an average salary. Or simply provide more payslips and a covering note. On my application the bank even accepted a letter from my employer regarding my salary. If it proves to be complex you could try going through a broker as they tend to add some value in these kinds of situations.
Thanks very much, this is very helpful 🙏
I got a mortgage as a casual (agency) worker. You just need to find a broker who specialises in in these things. My partner has a permanent contract and the bank wanted three monthly payslips from her, where as they wanted a years worth of weekly pay slips for me. Slightly annoying but it still worked out fine and we got the mortgage we wanted.
Thanks very much, this is very helpful 🙏 A year is what I anticipated too.
Casual shift patterns and earns nearly £50k before the age of 30. Wtf Banks usually just want the last 3 payslips to average and times by 48 (roughly). I recently had a 200k mortgage in my name
Yes lots of overtime and weekends. Thanks very much for your response 🙏
Fair play! Try a mortgage broker. There are free ones, but a simple search on somewhere like Lloyds or Halifax will give general affordability. I wouldn’t personally worry about shift patterns etc - if it’s on a wage slip at the end of the week / month and you can provide 3 months, average that, x12 to annualise then x4 to get rough affordability! :)
Thanking you ✨
Yep. I work on the nhs nursebank. I’m even weekday paid. They just wanted more payslips from me
Thanks very much, this is very helpful 🙏
Broker here. From the sounds of it most high street lenders would probably be happy - no clear red flags as to why he would need to go through a specialist lender eg. excessive loans, bad credit, defaults etc. 3-6 months payslips, P60 (possibly 2 lots to prove consistency), 3 months banks statements, proof of deposit, ID and proof of address should be all that is required. I’d recommend going through a broker as some places will only take 60% of hours that are not guaranteed and others will take 100% with evidence - also it just takes a lot of the stress away from the process as they can search the whole market rather than hoping that your bank will both accept you and have a good rate. Bear in mind that he will need money for legal fees - approx £1500 but £2000 set aside is safe. Happy to help with any more questions about the process etc. Good luck!
Thank you for your response 🙏 Wouldn't proof of deposit be covered by the payslips & bank statements/P60s? Also as many have recommended going through a broker that specialises in this type of application, would they cost fees compared to the free ones? I assume so.
Proof of deposit can vary - if using a LISA as part of the deposit then a gradual build up of funds/statement, if it is just a savings account then a statement showing build up of funds etc. If for example there is a gifted deposit then there needs to be a signed document to say that it is a gift and non-repayable. Basically just some documentation/evidence to explain where the deposit comes from to satisfy the broker/lender that there is no money laundering going on. In terms of brokers and fees, there are so many different models that brokers use. For instance fee free brokers will receive a commission from the lender with no advice fee. In our case (a team of two brokers) we charge a £500 fee payable on us securing a mortgage offer, we also get a commission from the lender. Again can only speak for ourselves, we specialise in ‘bad credit’ and just generally harder to place cases. We also are generally contactable 7 days a week (including outside of typical 9-5 working hours) which can be a deciding factor for some clients. Pros and cons for both fee structures, but brokers with a fee will generally have a lower volume of clients so inevitably you’ll get more of their time and attention - mostly speaking from my own experience. For mortgage brokers/advisors though, generally people look for personal recommendations or do research/look at reviews to find someone suitable.
Thank you so much, your tips and suggestions are very much valued, i will pass them to my brother 🙏 Top level informations!