Mortgage lending rules changes

02 April 2014

As you may be aware the way in which mortgages will be offered and approved is changing. One of the criteria was that of lenders needing to confirm an individual’s earnings. We offer our thanks to the Council of Mortgage Lenders, who have confirmed to the CIPP that the current “normal” procedure of requesting payslips and or P60s etc. will not change. Whilst as now we receive some formal requests for confirmation of earnings, this is not expected to increase due to the changes, but instead individuals will be asked to supply formal evidence i.e. payslips.