We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Mortgage Lender Checking on Your Job
Sideburno
Posts: 43 Forumite
Hi guys, I've often wondered how do mortgage lenders check that you're job is real?
I understand they see the payslips and bank statements but do they do any other jobs to make sure you haven't made them up or have left the job?
Thanks
I understand they see the payslips and bank statements but do they do any other jobs to make sure you haven't made them up or have left the job?
Thanks
0
Comments
-
Lenders will do as many checks as they deem to be necessary.
Google, street view, companies house, social media, HMRC, phone calls, faxes, emails etc.
any way they wish to check they will do.
Do you have a particular concern?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It will depend on the lender but yes they do.
They may write for references, check figures on P60s stack up and I have known a lender to know how much a client will earn on their recent payslip (to the penny) before I have even seen it... no idea where they got that info from but I was quite impressed.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Just wondered to be honest, I've not had my employer mention anything to me and I thought it was strange that's all.
Thanks0 -
I have known a lender to know how much a client will earn on their recent payslip (to the penny) before I have even seen it... no idea where they got that info from but I was quite impressed.
PAYE is reported to HMRC in real time from payroll systems. Lenders can get the info.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It's a bit different to the days of the 'GMAC Star' mortgage, that's for sure!!
I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I have known a lender to know how much a client will earn on their recent payslip (to the penny) before I have even seen it... no idea where they got that info from but I was quite impressed.
If you know the salary and the borrower is on a standard tax code. There's calculators which will work it out. So an easy way of identifying pay slips that don't accord with the expected sum.0 -
On a recent case, on submission I got the message "no proof of income required as verified electronically" and the employer is TGI Fridays.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
-
kingstreet wrote: »On a recent case, on submission I got the message "no proof of income required as verified electronically" and the employer is TGI Fridays.
Not had this, what lender was this with out of interest?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Haafffiiilllllaaaaxxxx.Not had this, what lender was this with out of interest?
Flipping ten characters rule! :mad:I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I'm sure I've seen a few similar go through the office in the last couple of months.
Will go and have a furtle !! Back shortlyHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.2K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.2K Spending & Discounts
- 243.1K Work, Benefits & Business
- 597.5K Mortgages, Homes & Bills
- 176.5K Life & Family
- 256.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards