Salary Slips

JamesSouthend

Hi Everyone. Apologies if this is already covered in a similar thread. I did look but couldn't see a specific one to match.


I'm going through a divorce and have just returned to work, getting my first payslip on the 27th. It's permanent work on a good salary. When the house I'm in is sold, I'll have about £80k deposit and will be looking at a 65% mortgage.


How many salary payments do I need before I can apply for a mortgage with a reasonable chance of success? I've got great credit history/score and no other debts. The sooner I can get a mortgage the better it will be for all parties so don't want to prolong this any more than I have to.


Based on the 65% mortgage, the future monthly mortgage payment will be 30% of my salary so there's plenty of security there. But I do appreciate the risk is not keeping the job

ACG

1 would give you a few options, 3 would open up the market.

JamesSouthend

Thank you! Happy to wait until the 3rd salary slip, was worried it would have to be 6 months and that would make things even more awkward than they already are

pifra

Its really a big pleasure when our salary gets big. I can understand the situation very well because I also an government employee and every month when i get my payslip online it feels really good. My salary slip by is my pleasure.

muhsarim

I think 6 month to wait for apply for mortgage. It is right? I am government employee and just got my 4th salary.

Sistergold

muhsarim said:

I think 6 month to wait for apply for mortgage. It is right? I am government employee and just got my 4th salary.

3 payslips will do as mentioned by @ACG above. 

elsien

Thread resurrection alert. 
The original query was April 2018, although I appreciate muhsarim’s post was asking a similar question, 

K_S

@elsien @muhsarim You should have mainstream options with a future job (as long as you have a contract starting in 3 months), a new job where you don't have your first payslip yet, a new job where you do have you first full payslip.

As far as mainstream lenders are concerned, and assuming you've been continuously employed, one full payslip in a permanent PAYE role will give you access to pretty much the whole of market.

When you get to specialist lenders or smaller building societies, they can be a bit/much more picky with respect to things like probation, length of time in current employment, etc.