When did your mortgage lender verify employment?

[MammaMiaaa]

Sorry - posting for traffic.

Did your mortgage lender verify your employment by speaking to your boss directly? If so, when did they do it?. I've provided all my payslips, bank statements but they also asked for my employers details incase they needed a reference. I'm guessing it's because there's no address on the payslip and just the company name.

Valuation is taking place tomorrow and I'm assuming if they needed to contact my boss, that they would do it before they offered me the mortgage, am I right?. I've heard that some lenders check employment status just before completion to make sure nothings changed. Broker said that they probably won't even check, just needed details for the record. I only ask because my boss is useless and very slow at replying to emails/letters, so I'm just hoping they will contact him sooner rather than later.

Most lenders would look to contact an HR department directly. It depends on the size of your company I guess. In terms of when is this done. It would be done before the mortgage offer. In my experience, the only thing that might be repeated is a credit search if it goes out of date. If you have already shared payslips and bank statements that show the corresponding payments, chances are that that would be sufficient

Thanks @Poppyhopscotch it's a very small company and we don't have a HR department. My boss is pretty much in charge of everything!

They never checked with my employer. I assumed that my payslips and monthly pay appearing in bank statements was enough 🤷‍♀️

I’ve had four mortgages with four different lenders and have never had an employer contacted - just had to provide three payslips and matching bank statements to show the salary in pay. Usually they’ll only contact your employer if something doesn’t match up, or if you’ve been furloughed or stayed your employment circumstances may change - and they’d do this after the valuation and before making the offer.

Rate to contact an employer. Usually they will do if your payslips looks a bit iffy, though if you’ve gone through a broker they should do their due diligence also.

Never had it happen - I’ve had 4 or 5 mortgages, the most recent is just completing.

Thanks all lots of different answers on Google... I think it's just random spot checks. I assume if they wanted to contact my boss they would do it before making an offer, which will hopefully come through by the end of this week. I did read online that some lenders check before releasing funds 🙄

They didn't contact my employer - I provided a copy of my employment contract, pay slips and bank statements to my broker who checked them, and then my mortgage was approved there and then.

Mine never did. I would probably be bit at that. As pp. Payslips and bank statements shoudl eb enough

They are very strict now, probably because of covid?! The amount of paperwork I've had to send off, then they come back the following day and ask for more

My employers have never been contacted for any of my mortgages

Some are just shit, not strict. My friend had one who kept aksing and asking for more until she lost it, went with another and got it no problem. Well before covid

If you are at valuation stage, mortgage company have verified income already, either through payslips/bank stmt/employer. Mortgage providers won't incur the valuation costs either for you or for them unless they are fairly sure you qualify, the valuation is to see if the property qualifies.

@yellowbikini hopefully all good then? FTB btw so I'm clueless!

Yes, hopefully all good

Did you get your mortgage offer ok OP?