NHS Unsociable Hours & Payslips (FTB)

gohan2091

I am 32, single, no dependencies, no debt, credit rating 996/999 and have £32,000 in savings. I've been working at an NHS hospital for almost 3 years now. I earn £17,460 starting September 2018. My old pay slips show my previous part-time salary of £15,830. NHS staff are entitled to unsocial hours enhanced pay for late nights and weekend work. I do Saturday work as standard ever since I joined so my old pay slips show this Saturday enhancements. This comes to £1,843.01 per year (extra 43% of my £8.93 hourly rate). Starting September 2018 I work Sundays, which gives me £2,003.73 per year (extra 85% of my £8.93 hourly rate). In total my salary is actually £21,205.30. These hours are my set pattern and do not change.

I found a few properties I want to put offers in ranging from £120,000- £130,000 however since my hours have increased and I work Sundays, I am unable to a provide a lender with 3 accurate pay slips until I have worked 3 months (End of December). NHS Payroll have written me a letter confirming my £17,460 salary but refuse to mention my enhanced pay. I have obtained a signed supporting letter from my manager confirming my enhanced pay thinking this may help but to be honest I don't think it does.

My L&C broker says most lenders won't accept the managers letter as it has to be from the payroll department. He says Santander can let me borrow £95,000 with my letter and one pay slip but they are one of the few lenders who take into consideration my pension so I can only borrow £86,000 which is not enough. I asked about HSBC who also accept 1 payslip but he says when they see the year to date column it won't add up and they would then likely require further evidence. Halifax can lend me just £82,000 because they will only take my enhanced pay at 60%.

Any advice? Obviously if I wait until December/January I should be ok but then the properties I like will likely be sold. Not the end of the world but I was hoping to get this sorted sooner rather than later.

ACG

Speak to another broker. A local broker.
It may cost, but they are more likely to put the effort in.

If your contract states your shift pattern, that may help.
Failing that, it might be possible to use payslips in conjunction with the ones from the current job to evidence Saturday shifts.

I think you need someone to sit down and go through everything really as we cant see what is available and how things are displayed and so on.

csgohan4

Brother, I used a broker, a paid one and they found a lender that took the banding for NHS work into account, but not all lenders take 100% of this and some only take 50%.


L+C are only good if your uncomplicated, you get what you pay for, well done on saving that much for a deposit

gohan2091

I've spoken to a local broker before. He wants £495 before the application starts, then there is additional costs from him once the mortgage has been approved. No thanks. I can probably prove the Saturday shifts but not the Sundays but this isn't enough borrowing power, I need the Sundays too or I can't get anything I want. My original contract says I do 34 hours, I don't have a new contract with my new 37.5 hours, and it doesn't say what specific days I work but I do the same each week.

I can find lenders who will accept the enhanced pay at 50%, 60% and even 100% but I don't have enough proof until my new payslips come in. As I said, Santander will accept my enhancements 100% but they deduct the pension payments so my borrowing power is a lot less.

I get my first new payslip in 9 days time, once I have that, I may try a Habito broker. I'll explain the situaton, give him my managers letter, letter from payroll, 2 old payslips and my new payslip and see what options I have.

ACG

You are going about this all the wrong way.
Fair enough on not wanting to spend £500 upfront plus other fees after.
Try another broker, a proper broker. Habito is an online broker another broker that only wants the simple cases and does not charge.

Dont take this the wrong way but your case is far from simple at the minute yet you are begrudging paying someone who does this sort of thing on a daily basis and will get you an outcome that L&C and you can not get. Froget the large fee free firms, they get 10 simple cases for every complex one, why would they want to spend time on your case for £300 when they could do 10 easy ones for the same income.

Your case is going to need a lot of calls to account managers and underwriters to get the case pre agreed prior to application I suspect as you are not going to fit normal criteria for the amount you want.

Invest a bit of money into a local broker (even if it is one who does not charge upfront) and get the job done properly. I am conscious that I am spending your money, but many of my posts on this forum tell people they do not need a broker. However, there are times where a good experienced local broker is needed - this is one of those times.

csgohan4

I paid about £500 for a broker and that was only after a successful offer, not before. You need to find a better one.

I got my broker on these forums actually, PM the ones you like the look of

genesis111

Hi we are very similar I'm 32, using L&C and nhs staff. I was required to prove that I make at least 24k annually as we need to be around 55k joint. My wife earns 28500 and kids benefits around 1600 yearly. but due to kids summer holiday I actually reduced my hours and end up around 1,200 gross per month ( July-Oct 2018) but what I did was ask my Manager to write a letter and confirmation of my pay and I will return full time starting Nov 10. I am band 1 nhs staff but I'm a permanent weekend staff so I get the unsocial hours. I was even surprised with the new 2018/2019 I have a gross of around 27k.
Basic Pay for full time is 17460
High Cost allowance inner minimum is 4323
Satuday unsocial Rate £8.9 ÷ 50% x 52 Weeks x 7.5 hours a day is around £1741
Sunday unsocial Rate £8.9 x 52 x 7.5 is £3482
Total is around 27000.
Wtd pay bonus comes around 600£ but lenders wont consider that as permanent.
My manager included in the letter that I'm permanent on weekends so the unsocial rates are permanent. I just passed my application today but my advisor seems confident. My credit rating is around 59/99 and I only have 5-10% deposit. Hopefully all goes well. The flat is 735k and were buying 25% 183750. So mortgage of around 170k. Managers letter will be enough especially if your earning basic like I'm band 1. The lenders can even research online all the minimums and will rally with my computations. Good luck

genesis111

Brokers who don't charge like L&C are only commission based so they are more likely to fight and argue cases otherwise all the effort they put It means 0. Hard to trust brokers who ask money initially as they will still accept application whether it will pass or fail.

LRmortgage

I completely disagree with Genesis.

Fee free Brokers don’t want to spend their time on the “difficult” cases. They run a conveyor belt system and want to get as many simple cases through as possible.

Most fee charging Brokers charge their fee once the mortgage offer has been agreed by the Lender, so it is very much in their interest to work as hard as possible to get the mortgage offer and then get paid by the Client and the Lender.

csgohan4

genesis111 wrote: »

Brokers who don't charge like L&C are only commission based so they are more likely to fight and argue cases otherwise all the effort they put It means 0. Hard to trust brokers who ask money initially as they will still accept application whether it will pass or fail.

I disagree, L+C will put the difficult cases on the back burner and concentrate on the easier ones and churn those through, they are a conveyor belt broker, quantity not quality.


Brokers who you pay ON OFFER will be better not before

dimbo61

Your still looking for a property and even after you have put an offer in the buying process takes 10/12/14 weeks.
By that time you will have 3/4 months of payslips reflecting your Income and unsocial enhancements.
Spend time thinking about what type of property you want, bedrooms, bathrooms, garden, location and your budget.
Write down a list of must haves ! Would like and Not important