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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Employed applicants

No minimum term of employment is required.

​New job, promotion or pay rise

If the applicant has confirmed they will be starting a new job, receiving a pay rise or undertaking a new role with their current employer (eg accepted and offer) then the new job and higher income can be keyed on Mortgage Pro. The start date of the new job should be keyed as the date that the application has been keyed.

For pay rises or promotion/new job with their current employer, key the start date the customer joined the company.

The start date of employment must be within 3 months of the date of the full mortgage application.

In these instances, it is acceptable to provide a pay rise, promotion letter or employment contract. This must be accompanied by a covering letter on headed paper from the employer or the covering email/email chain, if the employment contract has been emailed, confirming that the applicant's contract and/or terms and conditions of employment are enclosed/attached. Where the employment contract cannot be provided, we will seek an employer’s reference.

An acceptable pay rise letter must include:*

  • Applicant's name (First name and surname as a minimum)
  • Employer's Name and Address
  • Confirmation of salary increase with the new salary and date it starts (must be within 3 months of full mortgage application date)
  • Signed and dated by the person issuing the letter, with their printed name and job title included. The letter must be issued by someone from the company's HR/payroll department or by the owner of the business/director
  • Most recent payslip at time of full mortgage application to be on file to cross reference against.

An acceptable promotion letter must include:*

  • Applicant's name (First name and surname as a minimum)
  • Employer's name and address
  • Confirmation of promotion, new job title, new salary and start date (must be within 3 months of full mortgage application date)
  • Signed and dated by the person issuing the letter, with their printed name and job title included. The letter must be issued by someone from the company's HR/payroll department or by the owner of the business/director
  • Most recent payslip for current role at time of full mortgage application to be on file to cross reference against

Please see Future Changes for more information.

* A pay rise or promotion letter is a letter that is issued to the applicant(s) directly to confirm their pay rise or promotion, NOT a letter that is issued to a third party (e.g. Dear Sir / Madam or To whom it may concern) to confirm an applicant(s) pay rise or promotion. This type of letter is classed as an Employers Reference and will need to meet all Employer Reference Criteria to be acceptable.

Income from second job

In cases where the applicant has more than one job, income can be used towards affordability if it is evidenced as sustainable.

Please see Main Income and Other Income for more information. 

Please see Lending into retirement if the applicant is applying for a mortgage term which extends past their anticipated retirement age.

UK residents not paid in sterling

The use of foreign currency income is not acceptable. Any applicants requiring foreign currency income to be included in the affordability assessment should be declined.