Santander - Documentation problem (Contract of Employment)

jumpedtheshark

We're in the process of applying for additional lending from Santander. OH has started a new job, and we were asked to provide his 'contract of employment'. All he has is a signed offer letter and accompanying terms of employment. The terms are generalised to anyone on his pay scale so not personalised to his job.

We initially uploaded the signed offer letter only. We got a rejection email and text asking for the 'contract of employment', so have also now uploaded the terms of employment, and added a note saying that this is all we have.

Will this be enough? (We haven't heard back yet). Or is there something that we should try to get from his employer? I thought offer+acceptance=contract, hence signed offer letter = contract. So I'm not sure we can easily get anything else from his employer. I work in the same sector, and similarly just have my signed offer letter and terms, with no separate 'contract'.

Thanks in advance!

kingstreet

There should be a written offer or contract confirming all employment details and signed by both parties and showing an agreed salary and start-date.

Santander is not good with accepting income which it cannot evidence as being earned, such as using first monthly payslip.

jumpedtheshark

Thanks for the reply, Kingstreet.

Everything you mention is on the signed offer letter - and, to be clear, it's signed by both the employer and my OH. That's why we were confused. Plus, it appeared that they had accepted it - we got initial confirmation it had been received, and then we got the rejection a couple of days later.

The money is going to be used for a deposit for a holiday let (which we'll also use ourselves) and, in initial discussions, they seemed to think that the accounts for that property (which we gave them) were the most important thing.

What should we do? I was wondering if OH should get a letter from his employer stating that the signed offer letter plus terms of employment constitute his contract? Would that help at all?

kingstreet

I don't know.

You need to establish what Santander's issue is and try to find a way of satisfying it.

Is it urgent? Could you wait for the issue of his first payslip?

Presumably you are securing this on your main residence with affordability met from personal income? In which case, I can't see why there would be any interest in the holiday let accounts...

Thrugelmir

jumpedtheshark wrote: »

The money is going to be used for a deposit for a holiday let (which we'll also use ourselves)

With the remainder being financed by a separate loan (mortgage) from a different lender?

jumpedtheshark

Yes, Thrugelmir, exactly that. Both lenders know the situation. At their request, Santander has the KFI for the holiday let mortgage and the accounts. The other lender doesn't need the Santander specifics, but will need to see confirmation as proof of funds before the final transfer.

It's been made more urgent because the vendor has pulled forward when they want the deal completed by a month!

jumpedtheshark

Just wanted to update this in case it affects anyone in the future. We uploaded a letter from the employer confirming that the 'contract of employment' comprised of the accepted offer letter and the terms of employment, and that there was no separate 'contract' document. That was accepted by Santander and we are moving forward as hoped for.