Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Kcaj94
    • By Kcaj94 8th Mar 18, 10:47 PM
    • 13Posts
    • 0Thanks
    Kcaj94
    First time buyer
    • #1
    • 8th Mar 18, 10:47 PM
    First time buyer 8th Mar 18 at 10:47 PM
    Evening all,

    Just after some quick advice if at all possible.

    I am looking to get onto the property ladder and have been looking into first time buyer mortgages and have received an agreement in principle which is great.

    My worry however is that they are requesting 3x payslips so for December, January and February. I started a new job in late November 2017 and the job was completely different to what had been explained to me so I ended up leaving the job in January 2018 and walking into another role. My new role required me to work a one month probation on a lower salary (16k a year) and now I have passed my probation my salary has increased to 25k a year which is what my agreement in principle is based on.

    Now, obviously my payslip from December will be my full pay but the one from January is decreased somewhat due to me leaving half way through the pay month. Then my payslip from February will only show me as earning 16k a year but I have based my mortgage in principle on me earning 25k a year as I am now I have passed my probation.

    Is my mortgage likely to be turned down in light of the above?

    Any help is hugely appreciated as I am having sleepless nights over this!
Page 1
    • Edi81
    • By Edi81 8th Mar 18, 10:58 PM
    • 451 Posts
    • 311 Thanks
    Edi81
    • #2
    • 8th Mar 18, 10:58 PM
    • #2
    • 8th Mar 18, 10:58 PM
    When do you get your March payslip?
    Have you disclosed the correct time with employer on the application?
    • Kcaj94
    • By Kcaj94 8th Mar 18, 11:00 PM
    • 13 Posts
    • 0 Thanks
    Kcaj94
    • #3
    • 8th Mar 18, 11:00 PM
    • #3
    • 8th Mar 18, 11:00 PM
    Thanks for getting back to me.

    I get my March payslip on the last Friday of the month.

    I have stated on the application that I started with my current employer in January
    • enthusiasticsaver
    • By enthusiasticsaver 8th Mar 18, 11:16 PM
    • 6,377 Posts
    • 13,034 Thanks
    enthusiasticsaver
    • #4
    • 8th Mar 18, 11:16 PM
    • #4
    • 8th Mar 18, 11:16 PM
    Have you got a letter confirming your salary has increased to 25k?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Kcaj94
    • By Kcaj94 8th Mar 18, 11:18 PM
    • 13 Posts
    • 0 Thanks
    Kcaj94
    • #5
    • 8th Mar 18, 11:18 PM
    • #5
    • 8th Mar 18, 11:18 PM
    I do actually yes
    • amnblog
    • By amnblog 9th Mar 18, 8:02 AM
    • 10,456 Posts
    • 4,130 Thanks
    amnblog
    • #6
    • 9th Mar 18, 8:02 AM
    • #6
    • 9th Mar 18, 8:02 AM
    You have a mortgage agreement in principle which is sounds like has been based on incorrect information.

    You simply need to start again with the process. Not to worry, as a MIP means next to nothing anyway and is a long way from a formal offer.

    Ask the Lender what to do, or better still, ask a mortgage broker to assist you.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,217Posts Today

8,439Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin