Proof of salary on re-mortgage

koexelek

Fast tracking is pretty rare these days, although I got two fast tracks through with Northern Rock yesterday.
Both of these were A1 clients, low loan to value, borrowing well within their incomes though.
Main benefit of fasttracking to me is that I don't have to spend ages copying and certifying all the payslips. I would not put down incomes people can't back up.

arkie

koexelek wrote: »

Fast tracking is pretty rare these days, although I got two fast tracks through with Northern Rock yesterday.
Both of these were A1 clients, low loan to value, borrowing well within their incomes though.
Main benefit of fasttracking to me is that I don't have to spend ages copying and certifying all the payslips. I would not put down incomes people can't back up.

you are supposed to keep proof on file according to the fsa

koexelek

arkie wrote: »

you are supposed to keep proof on file according to the fsa

Do that, but don't have to take extra copies stamp and certify etc....

... only for the lender to say a few days later they have not received them :eek:

Ian_Griffiths_Halifax

minimike2 wrote: »

Woolwich do not. Its a simple rate switch process.

I'm not sure about rate switches, but when I last did a Further Advance for a client we had to do a full application involving valuation and SOLICITORS! I couldn't believe it as they already had the charge on the house.

minimike2

Weird...i did a F/A with them recently and there were no sols involved and they did an AVM.

Its definately not a RM for a new rate.

Ian_Griffiths_Halifax

minimike2 wrote: »

Weird...i did a F/A with them recently and there were no sols involved and they did an AVM.

Its definately not a RM for a new rate.

There was an issue a couple of years ago where Woolwich bank accounts were changed to Barclays accounts, or something along those lines. I wonder if, as it was an Offset account, this had something to do with it

They couldn't give me any reason at the time other than 'this is how we do it'!

MarkyMarkD

Woolwich are still fast tracking as I didn't have to produce any evidence at all for my remortgage to them. That was on a <60% LTV which I think was the reason it qualified.

What's funny is that they were hugely diligent (you could say, far too much so) in checking income, commitments, etc. during the telephone interview but then didn't require any evidence of anything. (This was a direct telephone application, not via a broker).