Overtime drying up. Mortgage application in progress

ShilvaA

Hello all.

I have literally submitted my mortgage application with Nationwide for a helping hand mortgage today. As I understand it, they can use the average of my last 8 weeks worth of OT in the calculation, providing I have OT on my most recent payslip.

Thats all well and good. I have submitted my documents which proves high levels of continuous OT.

The thing is, my OT opportunity always dries up from February to around July and then comes back with a vengeance in August.

So as my house purchase progresses my newer wage slips won’t show much or any OT. Will they check more recent wage slips after a mortgage offer (providing I do actually get an offer of course!)?

I understand they might do another credit check closer to exchange, but what about wanting to see newer wage slips? 

Many thanks!

[Deleted User]

Very unlikely to ask for additional payslips unless the offer expires. 

Dont renegotiate the price that puts you in a different ltv bracket as that can sometimes prompt a reunderwrite

ShilvaA

Certainly won’t be negotiating... our sellers are incredibly rigid and it was incredibly hard work to negotiate them down even 1% of their asking price haha.

So hopefully as long as the sale progresses okay and we complete within about 6 months then we shouldn’t need to worry.

Thank you. 

Safe'n'Sound

You should be fine. Just don't be relying on that OT for your actual mortgage repayments! Good luck in your purchase