Three months of payslips

janesnowdon

Are there any loan companies that don’t require proof of income with payslips? 

mcpitman

Probably, but if not pay slips, they may request Bank Statements, which would you rather them see?

Ebe_Scrooge

Most lenders will want to see some sort of proof of income - whether from a salary or other source.  Perhaps even more so these days than they used to, in the wake of recent mis-selling and affordability claims.

janesnowdon

Ok thank you, would it be three months worth or just proof of income?

Grumpy_chap

That depends on a number of factors - for example, different evidence will be requested from someone who is self-employed compared with someone who is employed PAYE.  Plus variables such as how much you wish to borrow, other liabilities, security against the loan etc.

MattMattMattUK

janesnowdon said:

Are there any loan companies that don’t require proof of income with payslips? 

The lenders that do not want proof of income are normally the ones who will break your legs when you don't keep up with the payments. 

janesnowdon

And is it always three months? Or would two pay slips be enough? 

Ebe_Scrooge

Each lender will have their own criteria.  But essentially, it's not unreasonable for any reputable company to want to satisfy themselves that you have an income that will enable you to repay what you borrow.

Is there a reason you seem reluctant to provide the evidence you're being asked for?  I'm not meaning to be nosey or sarcastic in saying that, just a genuine question.  If, for instance, you have no income then a loan would seem to be a foolish prospect.  If you have a steady income but it comes from somewhere other than a salaried job that provides payslips, then it shouldn't be an issue - just so long as you can prove that you do have an income.

macman

Wait a maximum of 4 weeks so that you can provide the 3rd payslip?

janesnowdon

Yeah I was just a bit worried because I’ve been off work for two months and I start my new job in March, I am able to cover payments but just wondered if I’d have to wait three months or could apply with two payslips or if some lenders just need proof of employment without payslips 

Ebe_Scrooge

janesnowdon said:

I’ve been off work for two months and I start my new job in March

Congratulations on your new job!  However, it may be wise to postpone getting a loan until you've settled into the new job.  Things can happen - you may decide after the first week that you hate the job, there may be some unforeseen circumstance that means the job just doesn't work out for whatever reason.  I sincerely hope that nothing like this does happen, and that you find yourself in a stable and rewarding job.  But it would be sensible to not count chickens.  Sorry if that comes across as a bit doom-and-gloom - just the voice of bitter experience :-(