Proof of Income for Mortgage...

AnnaT_3

Hi,
I started work for my employet just 3 months ago. We are to get paid on the 15th of every month. I was taken on under a contract that stated I was to be paid one month in lieu and would be on 2 months probation. Until this probation ended I would be paid weekly, in cash (and receive a payslip) at which point I'd be confirmed as permanently employed by the company. I've had that confirmation and am eagerly awaiting my first deposit into my bank.

However, my husband and I are about to apply for a mortgage. They want 3 months pay slips (no probs as I have them) and 3 months bank statements. I presume the bank statements are to check the money going into my account? Only I've had no money go in yet (will do on Monday though).

Will this affect my half of the application? If so, what can I do to correct it (if anything?).

The house is on a shared equity scheme and they are withdrawing this offer next Friday so we need to get moving! Otherwise we'll be in a tent!

I should say that 'stupidly' I didn't deposit the cash I got paid weekly into the bank - I spent it on the food and clothes for the boys etc! Have I made a mistake in doing this (wasn't thinking mortgage at the time but we've been asked to leave our rented property as they want to sell it).

mclaren32

AnnaT wrote: »

Hi,
I started work for my employet just 3 months ago. We are to get paid on the 15th of every month. I was taken on under a contract that stated I was to be paid one month in lieu and would be on 2 months probation. Until this probation ended I would be paid weekly, in cash (and receive a payslip) at which point I'd be confirmed as permanently employed by the company. I've had that confirmation and am eagerly awaiting my first deposit into my bank.

However, my husband and I are about to apply for a mortgage. They want 3 months pay slips (no probs as I have them) and 3 months bank statements. I presume the bank statements are to check the money going into my account? Only I've had no money go in yet (will do on Monday though).

Will this affect my half of the application? If so, what can I do to correct it (if anything?).

The house is on a shared equity scheme and they are withdrawing this offer next Friday so we need to get moving! Otherwise we'll be in a tent!

I should say that 'stupidly' I didn't deposit the cash I got paid weekly into the bank - I spent it on the food and clothes for the boys etc! Have I made a mistake in doing this (wasn't thinking mortgage at the time but we've been asked to leave our rented property as they want to sell it).

I wouldnt be too concerned that you didnt deposit the funds into your account, they will use the bank statements to check account conduct and to see your existing commitments. I would imagine that the pay slips will confirm that you have been paid in cash so the underwriter will be able to make sense of it.

AnnaT_3

Thanks. If there is a query, can the bank not just access my Inland Revenue information - they'll then see the tax and NI for 3 months is there?