I am a IT contractor going via an umbrella company.
No big breaks in between contracts for last 2 years
Over 3 months remaining on contract
Have current and previous contracts for up to last 2 years
I have a mortgage in I principle based on my contract rate (showed my invoices to Halifax advisor). Later this week I have another appointment to finalise my mortgage application which I assume will be submitted to the underwriters.
My issue is will they ask for payslips? Majority of umbrella contractors’ payslips and accounts are geared for tax-planning. The net result is that the “salary” appears low compared to their actual income.
I am worried about the chance they will ask me to provide payslips (which will not show my full income). Should I go via a broker instead? There are a few which state all they need is CV, contract and bank statements to find a suitable lender.
I don't want the application to get rejected because I assume it will leave a note on my credit rating?
Any advice would be appreciated.
No big breaks in between contracts for last 2 years
Over 3 months remaining on contract
Have current and previous contracts for up to last 2 years
I have a mortgage in I principle based on my contract rate (showed my invoices to Halifax advisor). Later this week I have another appointment to finalise my mortgage application which I assume will be submitted to the underwriters.
My issue is will they ask for payslips? Majority of umbrella contractors’ payslips and accounts are geared for tax-planning. The net result is that the “salary” appears low compared to their actual income.
I am worried about the chance they will ask me to provide payslips (which will not show my full income). Should I go via a broker instead? There are a few which state all they need is CV, contract and bank statements to find a suitable lender.
I don't want the application to get rejected because I assume it will leave a note on my credit rating?
Any advice would be appreciated.
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