Nationwide - Proof of Income

pollyanna24

I've just spent a long while on the phone with Nationwide which is who I have my mortgage with.

I asked them if I wish to borrow more (I might buy my brother out of our property), how many payslips do they need?

He said only the most recent.

I get paid different amounts each month as it all depends when my boss puts payroll in.

So to even it up, I want to choose a month where it is the higher figure rather than the lower figure.

When you ring up and go through all your details and make an application, when do they then need the proof of income?

kingstreet

It is latest payslip at point of application, or if you have variable earnings such as overtime you want included, it's latest three months' payslips at point of application.

Thrugelmir

pollyanna24 wrote: »

I get paid different amounts each month as it all depends when my boss puts payroll in.

Contractually you are paid a base salary aren't you?

Madbags

Nationwide will probably ask for 3 months bank statements from you as well. They wanted latest wage slip from us and latest 3 months bank statements, so surely they will see what is going on.

pollyanna24

Thrugelmir wrote: »

Contractually you are paid a base salary aren't you?

I get an hourly rate and then each month, my boss puts however hours I've done in to payroll. But depending on where the day in the month falls, sometimes it's for four weeks, sometimes for five weeks.

pollyanna24

Madbags wrote: »

Nationwide will probably ask for 3 months bank statements from you as well. They wanted latest wage slip from us and latest 3 months bank statements, so surely they will see what is going on.

Thanks for this. He was very specific that they would want one payslip, I wasn't sure if this was because I have all my accounts with Nationwide as it is.

Madbags

pollyanna24 wrote: »

Thanks for this. He was very specific that they would want one payslip, I wasn't sure if this was because I have all my accounts with Nationwide as it is.

My partner has been with Nationwide for around 20 years and they still wanted three months bank statements from her. Plus proof of deposit, which was also funnily enough all in Nationwide's savings accounts. She just simply got the PDF statements from the online banking.

kingstreet

Document requirements depend on case details and credit score.

Minimum is one payslip.

From there you can add;-

Three months payslips/ Two years SA302s
One months bank statement
Three months bank statements
Proof of deposit
Gifted deposit template
Proof of pension contributions
Evidence of name
Evidence of address

and a few other obscure ones I've forgotten about, but they will be requested because the make-up of the case triggers it.

pollyanna24

Madbags wrote: »

My partner has been with Nationwide for around 20 years and they still wanted three months bank statements from her. Plus proof of deposit, which was also funnily enough all in Nationwide's savings accounts. She just simply got the PDF statements from the online banking.

Thank you. When you say proof of deposit, I'm guessing for me this will be my half of the equity in the house. How would I prove this? Will I have to get a formal valuation done (i.e. more than getting an estate agent in?).

pollyanna24

kingstreet wrote: »

Document requirements depend on case details and credit score.

Minimum is one payslip.

From there you can add;-

Three months payslips/ Two years SA302s
One months bank statement
Three months bank statements
Proof of deposit
Gifted deposit template
Proof of pension contributions
Evidence of name
Evidence of address

and a few other obscure ones I've forgotten about, but they will be requested because the make-up of the case triggers it.

Is the make-up of my case more complicated than a normal mortgage then? I have no problem providing these details, I just wondered.

kingstreet

That's not what I meant.

For example, if you are putting down more than £20,000 deposit which isn't from equity in your current home, you'll be asked for proof of deposit.

If your deposit is from a gift, the donor will be asked to fill in a Nationwide gift template form.

Let's say it is triggered by an answer on the application form instead.