showing/proving income for re/mortgage

Euphoria1z

hi

just an enquiry, what are lenders looking for you to show income wise when either buying or remortgaging a property? is it last 3 months payslips or will your current p60 be accepted? also do they ask for bankstatements and will they need to see your monthly income coming in?

reason i ask is coz my current p60 shows what ive been earning the past few yrs (aprx 28k) as an average but that has now dropped to a basic 16K, and im looking to remortgage soon, so would like to know if my p60 will be accepted or not?

cheers!

_Andy_

You'll need the last 3 months payslips usually.
By the way if you stay with your current lender and aren't borrowing any more, you won't need any proof of income.

Euphoria1z

my current lender is tmb, there not offering any more products, besides there svr (even tho its now going to be lower than what im paying) is 4.84 so im only benefiting less than 1% than current rate...id rather have a fix rate for atleast 5 yrs .. but id like to keep my options open so wanted to know if i can show my p60 i could get a mortgage but not with my last 3 months payslips.

Conrad

If under 75% lenders often do not request payslips or P60 but they reserve the right to. Now before anyone shouts 'fraud' just tjhink it through a second - is it better this person has a more affordable payment on terms they can deal with? You can be confident most Politicians would recommend thier own children get the better deal.