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Payslip advice please

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  • Payslip advice please

    I am looking to see if I can make my own monthly payslips to myself without having to use a programe such as SAGA etc?

    This is me looking to sometime over the next year or two now that me and hubby are getting to the point where we can buy our own home and I know they will ask for payslips from both of us.

    Any advice please?

    thanks.

    Pauline
    Personalised Wedding Cake Toppers

  • #2
    When I worked for a double glazing company we were all classed as self employed and therefore didn't get wage slips from the company.=, which was a bit of a pain.

    The office manager/receptionist used to print us off details of the hours we'd worked and what we'd been paid on head company paper. I never had any problems using this as a wage slip.

    As for when it comes to buying your house, they might ask to see your books/profit and loss sheet rather than a wage slip. Most banks will be happy to answer questions before you actually apply for a mortgage, so it may be worth giving them a ring and asking what you need first.

    HTH
    Carol
    Sparklez.co.uk
    Handmade Jewellery

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    • #3
      I don't think payslips are essential. Presumably you will be self employed so a copy of your accounts should suffice.
      Carol
      God helps them that help themselves.

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      • #4
        If you are self employed and want to apply for a mortgage, they will ask to see your accounts as payslips are not relevant. Usual the year end balance sheet is sufficient.

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        • #5
          I seem to remember from a discussion on another forum that applying for a mortgage when you are self employed is different from when employed and you have payslip from a company.
          When you are self employed, I believe it's a self certification mortgage whereby you use your yearly accounts.
          Definitely enquire early to be prepared.
          Bead Shop, 91 Liverpool Road, Penwortham, Preston, PR1 0QB, Lancashire. Mon-Fri 10am-5pm, Sat 10am-4pm, Sunday 11am-3pm.

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          • #6
            Ive always been self employed.
            Most mortgage companies will want Accredited accounts, many ask for 3 years!
            There are some companies that will accept your income by self decleration, ie. you write a letter telling them what you earn and they accept it.
            Ive used one "Southern Pacific" they are very easy to deal with, and dont charge as much as many of the high street banks, but they do like you to have a fair bit of equity in your property, just in case you default.
            Good luck, this is the stage where you find out being self employed has a lot in common with being a lepper

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            • #7
              Yep. Thought it depends on a number of factors - the "better" your deposit, the more relaxed the bank will generally be.

              If you have a relatively small deposit, then they are going to grill you - will probably refuse self declaration and ask for at least 3 years of accreditted accounts.

              Should you have any other paperwork which supports the fact that your business will continue to make an adequate income, this may also help your case - though this depends on whether you have a communicative bank or not (e.g. one where you can talk to and reason with a real person).

              E.g. Any contracts, etc, which proove there will be a given level of income in the future - unlikely in crafting, but a sensible set of projections for market take, if supported by plenty of figures may be beneficial.


              Good luck!
              --Matt

              Web Development
              Beads, Charms & Findings - Jersey Craft Shop

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