First time buy, only 1 month payslip & bank statement. Need help!

Nicolas66

Hello guys,
I am a newbie in forum. I have some questions, need help!

here is some details about our case:
1. My wife and I are first time buyers.
2. I have permanent job, £23,000. I've been in this company almost 1 year and half. Last month, I finished my 2 weeks paternity leave, therefore the net pay is lower than normal for 1 month.
3. My wife just finish her maternity leave and find a new job, she only have 1 month payslip. the bank statement, she can print it from HSBC machine. her salary £25,000. this job is a permanent job.
4. The property which our offer has been accepted value is £287,000. We have £115,000( or more) for deposit which is over 40%.
5. We are not british citizen, but we hold ILR(Indefinit Leave to Remain). The credit check scores: I am 808, My wife 794. We don't have any loan or debt, no overdraft.

The questions are:
1. Is the bank statement print from HSBC machine available for mortgage application?
2. (if 1st question works) Can my wife apply the mortgage with 1 month payslip and 1 month bank statement as a joint person?
3. Will my payslip which is lower than normal affect the application?(The Gross pay is showed as normal)
4. If the application is rejected, how it will affect us? And can we apply again when my wife have more payslips and bank statements?

5. 1 more question, how big chance that I can get the mortgage?

Thank you very much!!!

kingstreet

I suspect the answers to your questions will be on a theme of "you need to ask the lender," as none of the brokers can use HSBC, so never gain experience of their systems and the chances of getting an HSBC borrower who has experienced these issues reading your thread in a helpful timescale may be limited.

Nicolas66

Sorry for my poor english.
I don't mean I want to borrow money from HSBC. I just want to know the bank statement which is printed from HSBC machine is available for any application?

Thank you

HappyMJ

Nicolas66 wrote: »

Hello guys,
I am a newbie in forum. I have some questions, need help!

here is some details about our case:
1. My wife and I are first time buyers.
2. I have permanent job, £23,000. I've been in this company almost 1 year and half. Last month, I finished my 2 weeks paternity leave, therefore the net pay is lower than normal for 1 month.
3. My wife just finish her maternity leave and find a new job, she only have 1 month payslip. the bank statement, she can print it from HSBC machine. her salary £25,000. this job is a permanent job.
4. The property which our offer has been accepted value is £287,000. We have £115,000( or more) for deposit which is over 40%.
5. We are not british citizen, but we hold ILR(Indefinit Leave to Remain). The credit check scores: I am 808, My wife 794. We don't have any loan or debt, no overdraft.

The question are:
1. Is the bank statement print from HSBC machine available for mortgage application?
2. (if 1st question works) Can my wife apply the mortgage with 1 month payslip and 1 month bank statement as a joint person?
3. Will my payslip which is lower than normal affect the application?(The Gross pay is showed as normal)
4. If the application is rejected, how it will affect us? And can we apply again when my wife have more payslips and bank statements?

Thank you very much!!!

The scores mean nothing so ignore them.

1- If your pay is lower than normal then show more than one payslip and provide a written reason as to why they should ignore the lowest one.

2 - yes...up to your bank but you can get a mortgage after being in a job for a day.

3 - probably not.

4 - one failed application makes little difference.

Nicolas66

Thank you for your reply
"3 - probably not. " Do you mean, the bank statement which is print from machine is not available for application?

Thanks again

Nicolas66

5. 1 more question, how big chance that I can get the mortgage?

kingstreet

Different lenders take different approaches. Some use the credit score from the application to determine what status documentation they need.

I've known some lenders request no evidence of income at all and I've known others ask for six months' bank statements, three months payslips, a P60 and evidence of deposit. Somewhere inbetween is likely in your case.

Again, it is the lender's decision what type of bank statement is acceptable. Some want them printed, showing the applicant's name, address, sort code and account number. Others want that and want them stamped by the branch.

You are going to have to ask these questions of the lender or broker you wish to approach. We can generalise, that's about it.

Nicolas66

Thank you for your help.