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Pay rise after mortgage application
ambioni
Posts: 110 Forumite
Well- just over two hours after my broker submitted my mortgage application I got a letter from the CEO of the company I work for telling me that I had been awarded a payrise of £1400
Great news, just wish it had come through a few hours earlier as I might have then been able to afford a better deal
Oh well can't complain- am assuming lender will see this development in a positive light when reviewing the application and I don't get a situation where "computer says No" because it sees a difference in my most recent payslip and the salary that I claim to be earning
Great news, just wish it had come through a few hours earlier as I might have then been able to afford a better deal
Oh well can't complain- am assuming lender will see this development in a positive light when reviewing the application and I don't get a situation where "computer says No" because it sees a difference in my most recent payslip and the salary that I claim to be earning
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Comments
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Well- just over two hours after my broker submitted my mortgage application I got a letter from the CEO of the company I work for telling me that I had been awarded a payrise of £1400
Great news, just wish it had come through a few hours earlier as I might have then been able to afford a better deal
Oh well can't complain- am assuming lender will see this development in a positive light when reviewing the application and I don't get a situation where "computer says No" because it sees a difference in my most recent payslip and the salary that I claim to be earning
I sent a copy of my payrise letter with my payslips, and a note explaining. No issues, they must see it all the time.0 -
I got promoted two days after our AIP. I didn't bother to tell the bank as our mortgage was £40k under the maximum anyway so didn't think they really needed to know!0
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Yep. Only really important if you are touch and go on affordability.0
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I'd agree - if you've got no doubts as to your affordability, it's probably just going to waste time. If there's any risk of being declined, though, I'd inform them"You did not pull yourself up by your bootstraps. You were lucky enough to come of age at a time when housing was cheap, welfare was generous, and inflation was high enough to wipe out any debts you acquired. I’m pleased for you, but please stop being so unbearably smug about it."0
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