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Help to buy proofs & deposit questions
LindsW
Posts: 16 Forumite
Hi All
I'm looking to buy a new build home using the H2B scheme (Wales) - I have always had continuous employment and have recently changed jobs, my new job has a much higher salary than my old job and I have had my first payslip from them.
My mortgage provider is happy accepting the first payslip & also my new employment contract for my application.
However I notice the H2B proofs state they would require 3 months worth of payslips for an application.
Does anyone know if they ever accept 1 months payslip and an employment contract or letter from employment stating the salary/job title etc? I would call them but they are not open until Monday now to confirm.
The other question I had was surrounding the deposit. I am simultaneously selling my current home and buying a new 1, I've accepted an offer on my current home. If my buyer and I exchange contracts on the same day for both properties, can their deposit be passed along the line and subsequently used as my deposit? It may seem like a stupid question, I have never bought & sold at the same time before.
Thanks
I'm looking to buy a new build home using the H2B scheme (Wales) - I have always had continuous employment and have recently changed jobs, my new job has a much higher salary than my old job and I have had my first payslip from them.
My mortgage provider is happy accepting the first payslip & also my new employment contract for my application.
However I notice the H2B proofs state they would require 3 months worth of payslips for an application.
Does anyone know if they ever accept 1 months payslip and an employment contract or letter from employment stating the salary/job title etc? I would call them but they are not open until Monday now to confirm.
The other question I had was surrounding the deposit. I am simultaneously selling my current home and buying a new 1, I've accepted an offer on my current home. If my buyer and I exchange contracts on the same day for both properties, can their deposit be passed along the line and subsequently used as my deposit? It may seem like a stupid question, I have never bought & sold at the same time before.
Thanks
0
Comments
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As I understand it HTB (in England at least) accept the income that the mortgage lender is accepting.
For example, I applied for HTB whilst on maternity leave and because the mortgage lender were accepting my normal salary, rather than my maternity pay, this is the figure that was used to calculate HTB.0 -
As I understand it HTB (in England at least) accept the income that the mortgage lender is accepting.
For example, I applied for HTB whilst on maternity leave and because the mortgage lender were accepting my normal salary, rather than my maternity pay, this is the figure that was used to calculate HTB.
Thanks for the reply. It's more the proofs of income that they require that I was enquiring about. I know they will take my new salary into account, but as I haven't been paid 3 times yet I don't have the 3 months of payslips that it states they need on their website for the application, so wondered whether they would just take 1 and maybe a copy of my work contract instead or whether they will decline my application based on not having 3 months of payslips.0 -
Why don't you just call them and ask? Are you using a FA? If so, they should know the answer to that.0
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