Mortgage advice needed! P60 doesn’t match my declared income,was on maternity last year!

Cairo30

Morning,
I would be greatful for any advice or if anyone can share there experiences.
Myself and my husband sent off our main application last Monday via a mortgage broker to nationwide.
Our situation is quite complex as I am a nurse so I rely a lot on enhancements (night & weekend pay) and also I pretty much double my wage doing nursing bank work- I understand this comes under the term ‘casual employment’
Anyway nationwide came back immediately requesting my p60- but last year I was not maternity leave so I wasn’t doing any bank work.
My last 3 payslips show that I earn £700- £1400 a month through bank but my p60 states I only received £3000 last year! My broker apparently explained I was on maternity last year- but they havnt requested any dates if maternity or proof?!
It’s going to be a very long bank holiday weekend waiting the response. My broker said not to worry as if they decline we will apply with a different lender with different criteria I.e don’t ask for p60. The only problem with that is I have been signed off with a bad back the whole of August’s and my income from Nursing bank is only £3000 so if we reapply with a new lender and they ask for my most recent payslips. My August payslip does not match all the hard work Iv been puting in the last 8 months to ensure a mortgage! Bloody typical!
Please help do you think I will get rejected on the basis of my p60 not matching my income now and if we do need to reapply else where would I get away with not using August payslip even if it’s my most recent?
Thanks in advance!

haras_nosirrah

My experience with nursing and bank is that nationwide will use the p60 as they treat bank work as a 0 hour contract

from their criteria

Latest P60 and payslip. We’ll use the lower of the annualised year to date figures.

ACG

What day do you get paid in the month?
If it is the end of the month, then they are unlikely to ask for Augusts payslip as it has not been printed yet. If the middle of the month, then it will include some of July. If the beginning of the month, it will not include August.

Hopefully your broker checked everything prior to applying and there should be no problems.

Cairo30

Thank you for your reply. I’m not quite sure what is meant by there criteria- that they will use the lower of the annualised year to date figure- what does that mean?
This tax year Iv already earnt £4500 with my nursing bank. Will they use this figure or the £3000 figure from my p60? Will they take into account I was on maternity last year so the figure is low?
Thank you

haras_nosirrah

It means they will use the lower of the p60 or this year's annualised figures. I.e if your latest 3 months annualised showed 8k bank and last year p60 showed 10k bank they would take the 8k and visa versa.

I think if your broker has a good relationship with a nationwide bdm you may be able to do something with this. I would maybe offer the previous years p60 to show what your normal non maternity leave bank work looks like providing the bank has been a long term thing.

Nationwides concern is people doing short term a lot of bank work in order to boost their income with a view to getting a mortgage and then not bothering once the property has gone through.

If you can show that apart from the maternity leave your bank work has been long term and consistent then this is one I would bring up with a bdm for a common sense decision.

Cairo30

If my mortgage is declined do they tell you how much they would be willing to offer?