Payslips not matching bank statements

BobbyD85

Bit of a strange one this. We're currently in the process of trying to buy our first home and have submitted all the relevant paperwork, bank statements, pay slips, P60's etc. We're going through a broker and the underwriter has flagged up to him that my wife's pay slips do not match what is going into her current account each month. It's not a small amount either, it's an overpayment of about £160 a month. She was completely unaware as she never looks at her pay slips.

My question is, is our application likely to be rejected because of this? We've declared her earnings based on what is stated in her contract and and her P60/ Pay slip and not this overpayment amount and have tried to be as honest about it as possible including sending a copy of her contract to the broker.

General_Grant

Is it always the same difference between payment and payslip?  Has she contacted her employer to ask why there is the discrepancy?

BobbyD85

General_Grant said:

Is it always the same difference between payment and payslip?  Has she contacted her employer to ask why there is the discrepancy?

Yes it's always the same amount. To give you a bit of context, she works as a Nanny for a single mum and her payroll goes through this company called Nannytax. All her deductions such as pension, tax etc are all correct but for some reason her net pay is completely different.

Brie

Need to talk to Nannytax.  I would be worried that they have made a mistake somewhere and are not paying HMRC or towards her pension and are just handing the money to her.  Or someone in payroll has royally messed up and she's going to be asked to hand back a large sum.

BobbyD85

Brie said:

Need to talk to Nannytax.  I would be worried that they have made a mistake somewhere and are not paying HMRC or towards her pension and are just handing the money to her.  Or someone in payroll has royally messed up and she's going to be asked to hand back a large sum.

We did check tax and pension contributions and they have gone to the right places for the right amounts, so we're both really confused how this could have happened. Someone has really messed up somewhere. She was changed from weekly pay to monthly pay about a year and a half ago so we think it's been happening since then.

amnblog

The Lenders will not accept a discrepancy and this will need to be resolved and clarified by the employer before you can progress.

Sounds unfortunately like the employer has overpaid by some £2,880 if this has been going on for 18 months.

The moral of the story? Check your pay slips.

MWT

Does she get a travel allowance or similar?

Some organisations will pay 'expenses' at the same time as payroll.

It should be properly documented though as an expense so it is not subject to tax.

kingstreet

MWT said:

Does she get a travel allowance or similar?

Some organisations will pay 'expenses' at the same time as payroll.

It should be properly documented though as an expense so it is not subject to tax.

Hmm. Umbrella company tax saving wheeze which bites hard at mortgage time!

[Deleted User]

Should never have made it to the lender before this came up.  One of the easiest things to check when we request statements from clients.  

Letter from employer may suffice if its been an overpayment and you have funds available to settle it.  I wouldnt be surprised if they wanted 1 normal payslip though before approving 

kingstreet

Deleted_User said:

Should never have made it to the lender before this came up.  One of the easiest things to check when we request statements from clients.  

Letter from employer may suffice if its been an overpayment and you have funds available to settle it.  I wouldnt be surprised if they wanted 1 normal payslip though before approving 

Yep. What he/she said.

stingingBelle86

I am the wife. 

I just spoke to my boss. Her explanation is she’s been ‘rounding up’ so my wages don’t hit my account in strange amounts, whatever that means, and it all amounts to my proper salary anyway. I explained it’s an overpayment. She’s not even bothered and questioned why I was stressed and why I was bothering her with it. She has contacted our mortgage broker to explain and says she will write to the underwriters, but what she plans to offer as an explanation, I have no idea.