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No pay slips and want a mortgage

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  • 07-04-2010 5:26pm
    #1
    Elmo Fudd
    Closed Accounts Posts: 4 ✭


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    #2
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭Zamboni


    Elmo Fudd wrote: »
    My partner works as a carpenter for his father and as it's a family business he doesn't receive pay slips. We have been granted planning permission and now want to start looking for a mortgage. However, banks are looking for 3 months worth of recent pay slips. I'm a permanent teacher, so this isn't a problem for me, just my other half.
    Does anyone know whether banks will accept written notification from his employer (a.k.a his Dad) on his income? Also, he's on a three day week so is on social welfare too. Will this affect Bank's decision on giving a loan?
    I'd really appreciate any help or advice anyone has! smile.gif

    If his Dad is employing him he should be providing payslips (family business or not) to show him what taxes he is paying. He is legally obliged to provide a payslip. Get his Dad or whoever does his dads accounts to provide three accurate payslips.


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    #3
    eth0_
    Registered Users Posts: 10,846 ✭✭✭✭eth0_


    Elmo Fudd wrote: »
    Also, he's on a three day week so is on social welfare too. Will this affect Bank's decision on giving a loan?
    I'd really appreciate any help or advice anyone has! smile.gif

    TBH if he's on social welfare (even just 3 days out of 6) there's no way he'll get mortgage approval. Look at it from the bank's point of view - your partner's working week has been reduced to just 3 days per week, meaning if there is any further downfall in trade he will lose his job or have his hours reduced even further. The bank will think "This guy is does not have enough job security to be buying a house", and they have a point!


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    #4
    billybigunz
    Closed Accounts Posts: 925 ✭✭✭billybigunz


    Elmo Fudd wrote: »
    My partner works as a carpenter for his father and as it's a family business he doesn't receive pay slips. We have been granted planning permission and now want to start looking for a mortgage. However, banks are looking for 3 months worth of recent pay slips. I'm a permanent teacher, so this isn't a problem for me, just my other half.
    Does anyone know whether banks will accept written notification from his employer (a.k.a his Dad) on his income? Also, he's on a three day week so is on social welfare too. Will this affect Bank's decision on giving a loan?
    I'd really appreciate any help or advice anyone has! smile.gif

    Do you mind messaging me his name and local social welfare office. I'm sure they would like to know about a man on a 3 day week who doesn't get any payslips.


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    #5
    eth0_
    Registered Users Posts: 10,846 ✭✭✭✭eth0_


    That's quite an accusation to make. I mean, do you honestly think he'd get social welfare without producing evidence of his employment?


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    #6
    Elmo Fudd
    Closed Accounts Posts: 4 ✭Elmo Fudd


    eth0_ wrote: »
    That's quite an accusation to make. I mean, do you honestly think he'd get social welfare without producing evidence of his employment?

    Thank you eth0.
    My original post must have been misleading...everything regarding my partner's payment is above board and legal, e.g. his P60, taxes, PRSI etc. Maybe I wasn't very clear. I only came on here to look for friendly advice. Thanks for sticking up for me!


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    #7
    Sisu200
    Registered Users Posts: 155 ✭✭Sisu200


    I am after getting a mortgage in the past 2 months, I have payslips but herself does not get a payslip, however the bank gave us a form to give to her employer to fill out which needed pay details tax paid etc etc, then her employer stamped it and and we handed it in, there was no issue, they will need a P60 and this form filled out, it could be different between banks,

    We did have difficulty getting a mortgage as the banks have tightened the purse strings alot, they will make you jump through hoops, and savings is a big thing, have as much savings as possible

    Just one thing as well, depending on how much you need to borrow, there is a good chance you will get a mortgage on your own depending on income, however it all depends on how much your looking for, this might help you because the other half is on 3 days and claiming social welfare however he is still working.

    Best Of Luck


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