Wage slips/bank statements

Chud786

I've just applied for a Zoopla loan and at the end of the application I was asked for wage slips/bank statement.I am self employed/sub contractor and as such I don't have a regular salary.
My monthly income varies greatly depending when customers pay and my last two bank statements show a lower monthly average income than I have declared but my accounts back up the yearly earnings I have declared.
I appreciate that lenders have to be diligent,and I have nothing to hide,but was hoping to get an immediate decision as I need the money quickly.
Are there any lenders that will give an instant decision or is this the norm now(I haven't applied for a loan for a few years)
Advice appreciated.Thanks

andyfromotley

Send them the form that shows your taxable income (i forget the number of it off the top of my head)

Arleen

If you are a contractor then having a substantial savings (at least couple months of living worh) is no longer a "right thing to do", it's a must! Partially because you will, notoriously, run into issues with obtaining credit where an employee would breeze through.

But to your question you could try applying to other lenders and hope for an instant approval but I wouldn't keep my hopes up and rather move on with the paperwork for zoopla. Applying elsewhere will make it even less likely for you to get credit in the future as this will leave yet another hard-search on your file which is a sign of desperation for credit which is a bright red flag.
And it is unlikely that you will be accepted in those other places via automated systems.

And if you are thinking payday loan as a quick fix (and I can imagine that this thought will go by your head), there is a better alternative https://www.youtube.com/watch?v=wFwPAMeVPE4

Chud786

Thanks for the replies
I do have a fall back fund if work becomes quiet
I was after a loan to buy a motorbike that came up at a really good price and would never dip into the fall back fund for a non emergency purchase such as this
I'll talk to my accountant and get some sort of proof of earnings although I think it will be to late by then but it was only a toy i was buying so not the end of the world

Arleen

That is great to hear! Why not approach your own bank tomorrow bright and early then? They should see that you have a very healthy situation with ample reserves + money flowing in every month, so I imagine that they could give you a good decision?