High multiple providers with just 1mths proof of earnings?

Aldo

Hello, I'm looking for a 4.5x or 5x earnings mortgage provider (90% ltv) who will accept either 1 months' payslip or a letter from my employer as proof earnings. If there are such lenders, I suppose they're rates may be slightly higher and so a variable rate for < 1 year might be a solution?

Does anyone know of such a lender/lenders? I'm not too keen on having a guarantor which might be one option.

My reason for requiring such a mortgage is that I am about to join a company but have not been working for 5 months. Before that, I was contracting and proof of earnings no problem (although I suspect lenders wouldn't consider this anyway).

Many thanks in advance for any suggestions/experiences (including: "Just wait for 3 months' payslips"!), Alan.

herbiesjp

As long as you have a track record of employment then you could indeed find a lender to agree the loan for you.

As always, it will depend on your exact circumstances as to whether you will meet the lender's criteria.

Simon_gloster

Your circumstances are unknown ie deposit, income etc but try a local b roker in your area. From my experince Alliance & Leicester and Northern Rock always hit the 4.5 income multiples should I request them to stretch income. Especially Northern Rock.

As long as you have a a track record of employment that can be submitted as part of your application you should be OK. Again consult someone if unsure.

Good Luck
Si