Nfr Advice needed

[Fletchino]

How do banks check you pay for mortgage purposes. A friend of mine is going to provide the bank with fake payslips in order to get a mortgage the only lie is that she is telling is she is currently self employed but telling the bank she is a paye employee. Do the banks cross reference this and if so how thanks for all your help.

[Forever Fulham]

Isn't that...fraud?

[Scrumpy]

Things may have changed since my day. I used to sell and process mortgages for a High Street Bank about 15 years ago.

We would check that the applicants bank account verified the salary. So if the pay slips stated £900 a month from Harrods, then we would check that the bank statements showed a monthly credit of £900 a month. It would not necessarily have to be a credit saying 'Harrods pay' (in those days some people were still paid by cheque), but it would need to be a monthly total of £900+ credits going through the account.

My advice would be to find a good mortgage broker. I guarantee that they would find your friend a mortgage, even if they are self employed.

[Scrumpy]

Isn't that...fraud?

I'd love to be able to tell you some of the cases that we got accepted. We would 'stretch the truth' to a ludicrous degree. I prefer not to use the 'F' word. :033:

[Fletchino]

Cheers guys the earnings will match up to the payslips so the bank statements will be ok. But yes it is the f word. But everybody exaggerates sometimes even the government will spin you some old bull and match up some facts and figures to suit what they say. Are you a mortgage broker then scrumpy?

[Tempest]

payslips are cross referenced with bank statements and depending on loan amount/LTV employers reference may be requested. employers reference will also be verified. days of us lenders just glancing over mortgage applications are gone for the time being. mortgage accounts are securitised (sold on shortly after completion) and there is more emphasis on quality rather than quantity.

i work for one of those "flexible" lenders, formerly sub prime, even we're actually making sure things add up.

[Scrumpy]

Cheers guys the earnings will match up to the payslips so the bank statements will be ok. But yes it is the f word. But everybody exaggerates sometimes even the government will spin you some old bull and match up some facts and figures to suit what they say. Are you a mortgage broker then scrumpy?

No mate, moved out of that area a long time ago. Tempest, above, sounds more up to date.

[Burt]

Times have moved on... No more self certification mortgages etc.

There is a high chance this will get checked.

It's not worth the risk. It could end up in court.

[Me-ate-Live, innit??]

Do not try it with Nationwide  they will check 'er knicker size
the trick is to avoid being turned down
Scrumpy is correct get a broker tell the truth

[Artful Dodger]

I thought the bank usually wrote to the employer to verify that the person is employed and earns what they say they do. Pretty risky strategy if you ask me. If your friend is self employed and is making reasonable money, surely being honest and showing recent accounts would be better??

[Fulham76]

How do banks check you pay for mortgage purposes. A friend of mine is going to provide the bank with fake payslips in order to get a mortgage the only lie is that she is telling is she is currently self employed but telling the bank she is a paye employee. Do the banks cross reference this and if so how thanks for all your help.

Fake payslips??? She will be found out, no doubt about it. And then she'll never get a mortgage, certainly not with any of the main high street lenders anyway.
When genuine adverse 'cais' information is registered against someone, she'll be black listed for a long time.

[cmg]

General advice to anyone intending to extract money illegally from a banking organization (not, in itself, necessarily a bad thing -after all they have been doing it the other way round for a number of years.):

1. Statistically you stand a better chance of getting away with it by employing a stocking mask and a sawn-off Purdey than you do by fraud.

2. It is always better not to advertise your intentions in advance on the electronic media.

[Logicalman]

Hmm, up to 10 years at Lizzies pleasure should be borne in mind.

[Edwatch_Winston_Malone]

Things may have changed since my day. I used to sell and process mortgages for a High Street Bank about 15 years ago.

We would check that the applicants bank account verified the salary. So if the pay slips stated £900 a month from Harrods, then we would check that the bank statements showed a monthly credit of £900 a month. It would not necessarily have to be a credit saying 'Harrods pay' (in those days some people were still paid by cheque), but it would need to be a monthly total of £900+ credits going through the account.

My advice would be to find a good mortgage broker. I guarantee that they would find your friend a mortgage, even if they are self employed.


I used to get harrods payslips....