Woolwich - proof of income

donfeatures

Please can someone offer some advice.

I'm applying to the Woolwich/Barclays for a new mortgage. I 'm self-employed and have sent them the following.
SA302
P60
Signed accounts from my accountant
HMRC online tax summery

They have returned all these saying they want proof of income!

What more can I provide?

kingstreet

You need to ask them what is wrong with what you have submitted, or at least explain to us what you think the problem might be...

Accountant not qualified?

SA302 online print, not what is posted/faxed by HMRC?

Not long enough covered?

Pure speculation here which needs your further input.

donfeatures

I'm waiting for them to get back to me but as usual no one is in a hurry except myself.

The SA302s are originals
Accountant is qualified.



In the letter they retuned they are asking for 2013 HMRC online tax year overview which was sent,and proof of income which surely my signed accounts, SA302's and Tax summary cover.

I'm trying to get info before they get back to me.

Thanks for any help in advance

amnblog

It is a bit difficult for us to find a reason for this without seeing what you have provided.


One of the hazards of applying direct.

Cyberman60

When I was self-employed and applying for a mortgage I got my accountant to write a letter explaining what my expected income would be for the next year. I think that is what you need.;)

kingstreet

Very, very few lenders would ever ask for a projection.

In most cases it's two years SA302s from HMRC. They have to be posted or faxed out by HMRC and some lenders want the letter/fax header issued with them.

Otherwise, it's two years accounts signed by the accountant, or perhaps an accountant's certificate confirming the accounts details.

Let_Us_See

Start at the beginning. At this stage has Woolwich requested specific proof of income? If not, wait until they confirm their requirements.

Stating you are simply self-employed does not help others provide advice, as there are so many different self-employed categories, each with their own specific proof of income requirements.

Either wait for confirmation of requirements from lender, or if you have already forwarded documents that have been requested and later rejected, contact lender and ask why. Anything else would be speculation.

Thrugelmir

If you are self employed why have you provided a P60? That suggests some form of employment outside of your business.

amnblog

Cyberman60 wrote: »

When I was self-employed and applying for a mortgage I got my accountant to write a letter explaining what my expected income would be for the next year. I think that is what you need.;)

Sorry, that's not it.

amnblog

If your tax summary shows your income tax has not been paid in full for the years in question that may be the issue.

Let_Us_See

Thrugelmir wrote: »

If you are self employed why have you provided a P60? That suggests some form of employment outside of your business.

Paying yourself a salary throughout the year and then taking a dividend at the end is fairly common for self-employed. The P60 would cover the 'paid' employment.