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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Income, Verification - Main Income

Please be advised that if your applicant has been financially affected by Covid-19 different verification processes may be in place to those listed below. Please see our Covid-19 support page for further information.

Basic Income/ Contract Type Preferred Verification Document Alternative Verification Document
Basic Salary Latest payslip, (this applies whether the applicant is paid weekly or monthly).* Employers Reference
Overtime
Commission/tips/gratuities/tronc payments
Latest 3 payslips if paid monthly, latest 6 payslips if paid weekly or fortnightly. Employers Reference
Bonus

Latest 3 payslips if paid monthly, latest 6 payslips if paid weekly or fortnightly.

Latest 4 payslips showing the quarterly bonuses are required if paid quarterly.  Calculate total income received.

Latest 2 payslips showing the half yearly bonuses are required if paid half yearly.  Calculate total income received.

Latest payslip showing the annual bonus is required where paid annually.

Where bonus income has been entered, the latest bonus payment must have been paid on or after 1 January 2021 to be used for affordability.

Employers Reference
Holiday Pay Latest payslip, (this applies whether the applicant is paid weekly or monthly), unless you are unable to determine the level of holiday pay due to other benefits i.e. overtime/shift allowance. In this case 3 months payslips would be required. Employers Reference
Fixed / Short / Temporary Contracts -  
If Company Paying Tax (including CIS Contractors where employer deducts full PAYE tax and National Insurance contributions)
Latest payslip, (this applies whether the applicant is paid weekly or monthly) and evidence of at least 12 months contract history evidencing no gaps exceeding 6 weeks with at least 3 months remaining.  Where the contract shows less than 3 months remaining a future contract must be provided showing a minimum of 3 months future employment. Employers Reference
Employed in a Family Business
If Less than 25% Invested interest 
(Treat as employed)
Latest 3 months payslips (6 if paid weekly or fortnightly), and corresponding bank statements.   
Employed in a Family Business
Equal to or greater than 25% Invested interest 
(Treat as Self Employed)
Latest 2 years Tax Calculations and Latest 2 years Tax Year Overviews Last 2 years finalised accounts signed off by accountant
Ltd Company - Director/Shareholder - 
receiving - 
Basic PAYE salary ONLY 
less than 25% shareholding 
(Treat as employed)
Latest payslip, (this applies whether the applicant is paid weekly or monthly).* Employers Reference
Ltd Company - Director/Shareholder
  Wanting to use - 
Basic PAYE salary ONLY 
Equal to or greater than 25% shareholding 
(Treat as self employed)
Latest 2 years Tax Calculations and Latest 2 years Tax Year Overviews Last 2 years finalised accounts signed off by accountant
Ltd Company - Director/Shareholder -  
Wanting to use   
Basic PAYE salary + dividends ONLY 
Irrespective of share holding 
(Treat as Self Employed)
Accountants Reference
Last 2 years finalised accounts signed off by accountant
Self employed - Sole Trader Latest 2 years Tax Calculations and Latest 2 years Tax Year Overviews Accountants Reference or last 2 years finalised accounts signed off by accountant
Self employed / Share holding of a Non Ltd Company (i.e. Partnership) 
Taxable Income
Latest 2 years Tax Calculations and Latest 2 years Tax Year Overviews Accountants Reference or last 2 years finalised accounts signed off by accountant
Employed by/Partner of PLC or LLP -  
Irrespective of share holding  
Basic PAYE salary or drawings 
(Treat as Self Employed)
Latest 2 years Tax Calculations and Latest 2 years Tax Year Overviews Accountants Reference or last 2 years finalised accounts signed off by accountant
Maternity/Paternity/Adoption Leave Latest payslip received when working Employers Reference
Probationary Contract Latest payslip, (this applies whether the applicant is paid weekly or monthly). Employers Reference
Fixed / Short / Temporary Contracts -  
If Client Paying Tax
Treat as Self employed  
Fixed / Short / Temporary Contracts inc. Subcontractors & Agency Workers
12 months contract history (future contract if less than 3 months remaining)  
CIS Contractors Treat as self employed (unless employer deducts full PAYE tax and National Insurance contributions in which case treat as fixed term contractor)  
Town, Area or car allowance. (excluding mileage). Including Large town, area allowance eg London weighting/cost of living supplement Latest Payslip Employers reference
Day Rate Contractors

12 months contract history (future contract if less than 3 months remaining).

If on a rolling contract we require a letter from employer/agency confirming contract is still valid.

 

 

*Note: For applicants paid monthly or 4 weekly, the latest payslip must be dated within 6 weeks of the date of the full mortgage application. For customers paid weekly or fortnightly the payslip must be the latest or previous payslip, at the date of the full mortgage application.