Mortgage lenders which accept letter from employer as proof of earnings

Dewitts68

I am due to relocate in the next few weeks and start a new job and want to apply for a mortgage.
I realise that most lenders want 4 months worth of pay slips as proof of earnings but obviously I do not have them due to not starting work there yet.

Are there any lenders that will accept a letter from my employer stating I have been offered full time non-temporary employment with a start date and including my weekly hours and hourly rate as 'Proof of earnings'?

I know nationwide do but I have just been refused by them. Passed all their criteria and affordability checks, failed on my 'credit score' which I have just checked myself through Equifax and I have a score of 531 which puts me in the 'Excellent' catagory.
No I don't understand it either!!!

Tixy

Not sure about the mortgages question - maybe try asking on the Mortgages & Endowments section where a number of mortgage brokers post regularly.

In terms of your credit files - have you only checked equifax so far? if so then I would also check your experian and callcredit files before making any more applications (you don't need to pay for a score just get a copy of the statutory report, or for callcredit get a copy from their noddle site).

Mortgage_Mark_2

Advice #1 - IGNORE YOUR CREDIT 'SCORE'. This is simply Equifax's reading of your report, usually formed purely over the past 12 months, and is not representative of any lender's view on your credit file.

As an example, I had a client some months ago who was declared bankrupt in 2010, who had an Experian 'score' of 999 (maximum). Utterly ludicrous.

I'd speak to a broker as there may be options with lenders who are 'introducer only' i.e. not available direct.

AdrianC

It's worth remembering that for the first year you have minimal protection against your employment being terminated, so the lender may be wary if you're yet to start the new job.

Cheeky_Monkey

AdrianC wrote: »

It's worth remembering that for the first year you have minimal protection against your employment being terminated, so the lender may be wary if you're yet to start the new job.

I thought that was 2 years now isn't it?

AdrianC

I thought it was the other way round - used to be two, now one - but whatever. A year or two... CBA to check, and it doesn't make a difference to the point I was making.

Paully232000

Cheeky_Monkey wrote: »

I thought that was 2 years now isn't it?

It is 2 years now

HouseBuyer77

I received a mortgage offer based on one payslip and an employment contract (having been made redundant from my previous job), the lender was Norwich and Peterborough building society.

May be worth chasing nationwide for a specific reason why your credit wasn't good enough.

Doofs69

Was it only Nationwide you applied to or have you applied to other lenders recently as well ?

KELY

Lloyds bank have accepted letter from my employer

Dewitts68

Thanks for your replies.
I have signed up to experian as well as equifax, spoken to Experian to see if there was any old old items which were not marked as satisfied in the past which may have been hindering my application but they could find none.

I have only applied with nationwide as (as this post suggests) I'm looking for a lender which will accept a letter from employer as proof of income as I am moving at the end of may and starting work june 1st.

I don't know of any other lenders which will accept the letter which is why I am here, looking for others to apply to.

Kely, did you bank with Lloyds before making your application? This may make a difference.