asked for salary proof after being accepted for loan

dosser_2

anyone had any experience of this?

dosser :xmassmile

The_Boss

No, but then I've only ever had a car loan, and since that is secured against the car they go a lot easier on you.

I suspect its because you have a borderline case.

Xbigman

I take it you have been accepted but have not signed yet. It is normal procedure to ask for proof of income now unless you bank with them and your salary is paid into a bank account with exactly the same company. I say 'exactly' as different companies in the same group don't give access to each other. IE C&G (owned by Lloyds) can't check Lloyds current account customers details.

If you have signed the agreement and they want proof now then something has happened to make them query your income. As long as you have not lied just give them the details they want.
Regards



X

MooseRich

Yes, it seems common practise if you buy a loan over the internet or the phone. You'll either need to send 3 pay slips or your contract which must show how much you are expecting to earn.

dosser_2

anyone else with actual experience as a pose to theories?

overworked

dont suppose this helps much..if at all. When I applied for a loan a few months back over the phone, they asked my salary details but asked for no proof whatsoever...and no I didnt bank with them

dosser_2

Yes it helps!
which company? what amount?

cheers! dosser

highguyuk

I bank with Nationwide and had a Nationwide Loan and they asked for proof of salary - sent in my contract.

emma_b_4

had to provide pay slips for loan with cahoot along with a bank statement

opinions4u

In days where lenders are accused of forcing people in to debt, I think it wise for them to request proof of your ability to meet your commitment.

The loan will have been approved based on the information you provided. Payslips simply verify this information prior to funds being release.

To lie about your income (this includes a modest exaggerration) is fraud and you could end up being charged with obtaining money by deception.

A lender may choose not to verify income where the loan improves a customer's financial circumstances, a high credit score has been obtained, or other evidence of ability to maintain payments has been found (eg credit reference report).

While my view is that income should always be checked by a bank, I still think that the onus is on the customer to make sure that they can afford the repayments on any credit they apply for.

dosser_2

please refrain from giving subjective info i.e opinions! :mad:

any actual experiences would be appreciated

dosser