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Mortgage lender won't accept dh's wage slips

(10 Posts)
bubblesausage Thu 13-Mar-14 18:11:50

We're in the process of applying for a mortgage, looking to borrow 40% of what the house we're buying is worth.
The application seemed to be going smoothly, we paid for the valuation/survey which was done and came back ok, but the lenders called today to say they don't think they can accept DH's wage slip as it is handwritten. He works for a tiny company, where he is the only employee, they don't use an accountant so his wage slips have always been written by hand. Plus he gets paid in cash weekly, not directly into our bank account.
The guy on the phone said he will refer it to head office to see if they can do anything else, as its an unusual situation, and will get back to me by Monday. I'm hoping a letter from his employer to confirm earnings or something will be ok.
Has anyone else any experience of anything similar? Do you think we still have a chance?

BrianTheMole Thu 13-Mar-14 18:14:47

Not quite, but one mortgage company turned me down because I was a temp worker, so I went to another one who had different rules and lent me the money (at a lower rate as well.) so if they won't do it then try elsewhere.

denialandpanic Thu 13-Mar-14 18:15:14

does he have a p60? We confirmed earnings with some letter grin employer that was with nationwide

denialandpanic Thu 13-Mar-14 18:15:57

sorry with a letter from employer

Technical Thu 13-Mar-14 18:15:59

How does he pay his incomen tax? He must have tax returns or a p60 to verify his income

GarthsUncle Thu 13-Mar-14 18:16:49

Does he deposit the cash earnings weekly and then take back out, thus showing up on bank statements?

His employer should be registered through HMRC for PAYE - there may be a record there which looks more official.

PotteringAlong Thu 13-Mar-14 18:17:33

Yup, P60. I had to do this when I was on maternity leave. They will accept it as it's from the inland revenue.

bubblesausage Thu 13-Mar-14 18:28:54

Thanks for the replies, we have his last p60, that was my first thought, income tax and ni is deduced through paye by his employer, but again its handwritten, on a hmrc form, but handwritten, so again they won't accept it. We don't pay it all into the bank either, just what needs to go in for bills etc, then some into savings, and keep the rest in cash for groceries etc.
I'm trying to avoid going elsewhere as we've already paid for survey, and it would show on credit file that we were turned down I believe.

K8Middleton Thu 13-Mar-14 18:39:26

It'll just be some numpty who cannot comprehend a world where everyone doesn't have a computer and do things just like at his work. The bank won't have a problem.

They may ask for extra proof such as letter on headed paper, bank statement with deposits or p60 because they will not only want to check affordability but also that he is genuinely employed and not using the loan to launder money.

bubblesausage Thu 13-Mar-14 18:52:54

That's kind of what dh said k8 That it will be something he's not seen before, and has to do it 'by the book'. Fingers crossed they come back with some more options.

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