Mortgage With No Payslips

When applying for a home loan, most lenders require pays slips as a form of income verification. This way, they can ascertain whether you will be able to afford the loan, based on your current earnings.

But what if you don’t have evidence of your income? Employment situations vary significantly in today’s society, so those are self-employed or undertaking casual work may find it hard to evidence their earnings and conform to the banks strict lending criteria.

The upside? You may still qualify for a mortgage! Read on to find out more.

Why is a pay slip important?

A payslip is one of the easiest ways to prove your income. It is also one of the mode widely acceptable forms of proof for lenders. They can come in electronic or hard copy form and include essential information such as:

  • The name of your employer
  • Date of payment
  • Pay period
  • Amount of pay
  • Any bonuses or other rates
  • Hourly rate and number of hours worked, or annual rate if paid a salary
  • Any deductions including superannuation

This information is important for banks when assessing whether you can make your repayments. As such, those that cannot supply pay slips may find it difficult to supply proof. Despite this, other methods of income verification may help to evidence your earnings. Depending on your employment type, we may be able to assist you!

Will I get approval?

Many lenders have different verification requirements and there are some that simply request an income declaration form. Depending on your individual situation, this may be sufficient to prove your income to the banks.

To apply to lenders willing to appraise your loan application without payslips read on then, enquire online or call 1300 886 115 today!

Casual workers

Evidencing your income can be difficult. Are you working as a tutor? Maybe you’re in the hospitality industry? In some industries, casual workers receive a substantial amount of income through tips and other bonuses. It can often be difficult to prove to the banks that this is constant and viable. So what happens when you can’t provide the banks with full financial documentation? You go low doc!

If you are thinking of applying for a low doc loan, speak to our mortgage brokers on 1300 886 115 or enquire online. We can help pair you with the right lender to make sure you get a mortgage! You can also see our page on casual employment mortgages.

Cash as earnings

Those working in the trade or hospitality industry commonly receive cash in hand as a method of remuneration. However, proving these cash earnings to a bank can be quite difficult! That’s why there are alternative loan packages available. Our mortgage brokers can get you in touch with one of the major banks that offer a PAYG low doc loan.

You may also be paid in cash when you are employed temporarily. Perhaps filling in for an absentee. Find out more about temporary worker mortgages and apply today!

Commission basis

A variety of employees now work on a commission basis, including our brokers! You may be earning high amounts but your pay slips do not reflect this. The banks may consequently doubt about your ability to repay and your loan may be declined on this basis. Get rid of all the paperwork and stress with a commission low doc loan! Talk to us today to find out how we can help you apply for this package.

Speak to us today!

If you doubt your ability to produce proper financial documentation, contact us on 1300 886 115 or enquire online to get in touch with one of our expert mortgage brokers today!

Our services are largely free, with few exceptions. Lender guidelines can become complicated and this can make the process of applying for a mortgage incredibly stressful. We will aim to get you the best loan package for your employment mortgage, with a lender that’s sure to grant approval!