Guaranteed overtime HSBC

jurgen19

Hi all, would anyone happen to know if HSBC are accepting guaranteed overtime as part of your income? My boss has informed me that we are guarantee 60 hours every month and is willing to write me a letter to prove this. This would make a massive difference to our affordability if they do accept it
thanks

haras_n0sirrah

Unless you work for the nhs HSBC are not using any additional income at all

jurgen19

Thanks, that is unfortunate but suppose I will have to just deal with it

520d2012

I believe Barclays and NatWest are currently allowing OT pay.
Please check with your broker as mine has submitted my application with Barclays using OT.
Note - I had to provide 2 x P60 to evidence it was sustainable

Thrugelmir

Is the level of guaranteed overtime written into your contract of employment?

jurgen19

Thrugelmir said:

Is the level of guaranteed overtime written into your contract of employment?

No it’s a new thing my boss has introduced, as people weren’t doing the overtime because it wasn’t guaranteed and it would effect other things like tax credits etc should it stop. He said he can write a letter if that’s any good?

jurgen19

520d2012 said:

I believe Barclays and NatWest are currently allowing OT pay.
Please check with your broker as mine has submitted my application with Barclays using OT.
Note - I had to provide 2 x P60 to evidence it was sustainable

Thanks but I have my appointment tomorrow and my boss has only just introduced the guaranteed overtime as from last week, so it wouldn’t be on any payslips or P60’s he said he is willing to write a letter to prove it’s there

520d2012

jurgen19 said:

520d2012 said:

I believe Barclays and NatWest are currently allowing OT pay.
Please check with your broker as mine has submitted my application with Barclays using OT.
Note - I had to provide 2 x P60 to evidence it was sustainable

Thanks but I have my appointment tomorrow and my boss has only just introduced the guaranteed overtime as from last week, so it wouldn’t be on any payslips or P60’s he said he is willing to write a letter to prove it’s there

I stand corrected - just been to HSBC DIP page and they now appear to accept OT provided it meets certain conditions.

jurgen19

520d2012 said:

jurgen19 said:

520d2012 said:

I believe Barclays and NatWest are currently allowing OT pay.
Please check with your broker as mine has submitted my application with Barclays using OT.
Note - I had to provide 2 x P60 to evidence it was sustainable

Thanks but I have my appointment tomorrow and my boss has only just introduced the guaranteed overtime as from last week, so it wouldn’t be on any payslips or P60’s he said he is willing to write a letter to prove it’s there

I stand corrected - just been to HSBC DIP page and they now appear to accept OT provided it meets certain conditions.

Oh really! So it’s worth mentioning during my appointment? I just don’t know if they will go for it because I haven’t actually done the overtime as yet as it’s only just come in at my work place.

haras_n0sirrah

Seems they have loosened up from their nhs only days but you will need to have 3 months of overtime before they will consider it
quaterly, half yearly and annual bonuses are still not being allowed - only allowing additional income if weekly or monthly and on the latest 3 months payslips

520d2012

jurgen19 said:

520d2012 said:

jurgen19 said:

520d2012 said:

I believe Barclays and NatWest are currently allowing OT pay.
Please check with your broker as mine has submitted my application with Barclays using OT.
Note - I had to provide 2 x P60 to evidence it was sustainable

Thanks but I have my appointment tomorrow and my boss has only just introduced the guaranteed overtime as from last week, so it wouldn’t be on any payslips or P60’s he said he is willing to write a letter to prove it’s there

I stand corrected - just been to HSBC DIP page and they now appear to accept OT provided it meets certain conditions.

Oh really! So it’s worth mentioning during my appointment? I just don’t know if they will go for it because I haven’t actually done the overtime as yet as it’s only just come in at my work place.

Definitely changed from a few weeks ago - it stated clearly they would only accept OT from NHS, but that seems to have gone now.

I think so too the problem will be that you haven’t got any evidence on your payslip yet, also I’m not sure whether a letter from your manager will be sufficient or whether you will need something in T’s and C’s from your HR department.
You can always try tomorrow when you speak to them as that will not be a full application and see what they say.
Good luck