When applying for a mortgage in the UK, one of the key documents you’ll need to provide is proof of your income. This usually takes the form of payslips from your employer. But how many payslips do you actually need to provide? Let’s take a look at the typical requirements from UK mortgage lenders.
Typical number of payslips required
Most mortgage lenders in the UK will ask you for around 3 to 6 of your most recent payslips. Some may request up to 12 months’ worth, but 3 to 6 is typical.
For example:
- HSBC asks for your last 3 monthly payslips if you’re paid monthly, or last 6 weekly payslips if you’re paid weekly or fortnightly.
- Nationwide asks for your last 2 monthly payslips if monthly paid, or 4-6 weekly/fortnightly payslips.
- Santander requests your last 3 monthly slips or 6 weekly/fortnightly payslips.
So in summary, most lenders want to see a minimum of 3 up to a maximum of 6 recent payslips to verify your income when applying for a mortgage.
Why payslips are required
Mortgage lenders request payslips for a couple of important reasons:
- To confirm your income level – Payslips provide proof of what you are actually earning. The lender needs this evidence to assess whether you can afford the monthly mortgage repayments.
- To check consistency of income – Reviewing several months’ payslips allows the lender to see that your income is regular and consistent, which gives them confidence you can make the mortgage payments long-term.
Having a stable and verifiable income source is a key criteria mortgage lenders evaluate. Payslips give them the proof they need.
What if you don’t have payslips?
If you’re self-employed, a contractor or have an irregular income, you may not have easy access to monthly payslips. Don’t worry, you still have options. Typically lenders will request the following instead:
- Copies of your accounts if self-employed
- Bank statements showing your income payments
- An income statement from your accountant
Speak to your mortgage advisor if you don’t have regular payslips. They can help you provide suitable alternative evidence of your income situation.
Income verification for joint mortgage applications
If you are applying for a mortgage jointly with a partner or spouse, the lender will need income verification for both of you. This means payslips and other income proof for the joint applicants.
It’s not usually necessary to provide double the number of payslips though. For example, if the lender asks for 3 months of slips, you can provide:
- 3 months for applicant 1
- 3 months for applicant 2
Rather than 6 months for both. Check with your lender, but typically they just need to see the same level of income proof per person, rather than duplicated.
Payslip requirements
When providing your payslips, there are a couple of requirements to be aware of:
- Send originals – No photocopies. The lender needs to see the original documents.
- Make sure they are dated – The slips need to show the pay periods clearly, such as January 2023, February 2023, etc.
- Include your name – Redact sensitive info like your address or payment details, but ensure your name is visible.
It’s a good idea to check with your lender if you have any additional questions about their specific payslip requirements.
Alternatives to payslips
While payslips are the standard proof of income, some lenders may accept alternatives, such as:
- Bank account statements clearly showing salary deposits
- A letter from your employer confirming income
- Your latest P60 tax form
These don’t provide as much detail as payslips though. If you can get payslips, they should be your first choice. But speak to your lender if you need to provide substitutes.
How to get copies of your payslips
If you’ve lost or don’t have access to your payslips, you can request copies from your employer’s payroll department. Most companies can reissue digital or paper copies.
Alternatively, check if your payslips are available online. Many employers use payroll software like Sage that lets you login and download past slips.
If your employer has gone out of business or you otherwise can’t get copies, your bank statements may be acceptable instead. Discuss this with your lender if payslips can’t be accessed.
Tips for providing payslips
Follow these tips when submitting your payslips for mortgage approval:
- Double check you have the right number of consecutive payslips.
- Highlight key info like your name and the pay period.
- Include your latest slips going back 3-6 months.
- Photocopy them first in case they get lost.
- Send them promptly to your mortgage advisor.
Keeping your payslips organised and providing them quickly can help speed up the mortgage application process.
How payslips help approval chances
Providing the requested payslips is important for increasing your chances of mortgage approval. Here’s how they help:
- Verifies your income – Solid proof you earn what you stated on your application.
- Shows reliable income history – Steady payslips indicate a lower lending risk.
- Satisfies affordability criteria – Helps the lender assess you can manage repayments.
- Speeds up the decision process – Get a quicker mortgage decision when you supply all required documents.
In summary, payslips give lenders confidence in your financial situation. Sending payslips promptly is one key way to maximise your mortgage success.
What if you don’t meet the minimum?
Most lenders will want to see at least 3 payslips as a minimum. If you’ve only been in a job for 1-2 months, don’t have 3 payslips yet, or have gaps between slips, this can pose challenges.
If this is your situation, speak to a mortgage broker. They can help you find more flexible lenders who may accept fewer payslips in certain situations. For example, some lenders may only need 1 month of slips if you have a longer employment history.
Being upfront with your broker or lender about your payslip situation is important. They will be able to guide you on alternative options, rather than simply declining your application.
Payslips for contractors and temporary workers
Contractors and temporary workers often don’t have fixed monthly payslips. However, lenders will still require income evidence, which for contractors may include:
- Accounts showingyour contract income
- A letter from your agency confirming contracts
- Bank statements showing contract payments
Look for lenders that specialise in contractors as they will have more familiarity with these alternative proof of income documents.
Can you get a mortgage with only 1 payslip?
It’s sometimes possible to get a mortgage with only 1 payslip, but your options will be limited. Only a small number of lenders offer this, normally requiring:
- A minimum income, e.g. £50,000+
- A bigger deposit, e.g. 40%+
- Proof you’ve recently changed jobs
The lender needs to see evidence of why you only have 1 slip. Underwriters will also look closely at affordability based on just 1 month’s income.
While feasible, getting a mortgage with 1 payslip should be seen as an exception not the norm. Having at least 3 payslips will open up far more lenders and better mortgage rates.
Are PDF or emailed payslips accepted?
Most lenders are flexible in terms of accepting PDF or emailed payslips, rather than original paper copies. Some may ask for bank statements to show the salary payments, for verification purposes.
As long as the scanned or electronic slip clearly shows your name, employer details, pay date and amount, these are typically accepted by mortgage lenders.
However, always check with each individual lender you apply with, as some may insist on original hard copy documents. Sending your slips the way each lender specifies can avoid potential delays in getting approval.
Can your mortgage get declined without payslips?
Not providing the requested payslips is likely to lead to mortgage refusal. With no income proof available, the lender simply won’t have the verification needed to assess affordability and lend responsibly.
That said, declining an applicant is usually the last resort. If you are struggling to supply payslips, the advisor will first explore options like:
- Accepting bank statements or P60s instead
- Taking 1-2 months’ payslips if newly employed
- Getting a letter from the employer confirming income
So before assuming you’ll be declined without payslips, talk to your broker or lender about alternatives. There are often solutions that can prevent an outright refusal.
Should payslips match your income claims exactly?
It’s normal for some variance between the income on your mortgage application and actual payslips. Overtime or bonus payments may fluctuate for example. As long as your payslips support the income you stated within 15-20%, lenders normally won’t have an issue.
However, larger discrepancies could lead to further scrutiny. For instance if you stated £50,000 income but payslips show £30,000. Provide any context needed to your broker, like explaining bonus or commission variances.
As a guide, try to make your income estimates conservatively, and have documentation ready to explain any major differences to payslip amounts.
Do you include overtime on an application?
You can include overtime and bonuses on a mortgage application, as lenders will consider this part of your income. However, most lenders will ask for a 2-year track record of any overtime / bonus payments from your payslips.
This helps them see a consistent pattern of overtime and that it’s reliable income, not just a one-off. Make sure your payslips evidencing overtime go back far enough to satisfy the lender’s requirements.
How many years of payslips do lenders check?
For a standard employee with a continuous work history, most lenders will only check the most recent 3-6 month period of payslips.
However, they may request up to 2 years of historical payslips if:
- You’re newly self-employed
- You have an irregular income
- You are relying on overtime/bonus payments
Having 2 years of slips demonstrates a stable track record over that period. Submitting this upfront can often speed up the application process.
Conclusion
Most mortgage lenders in the UK will want to see your last 3-6 months of payslips when applying for a home loan. This provides the proof of your current income level and stability that gives them confidence in your affordability.
Aim to supply quality payslips promptly as requested. If you have any difficulty meeting the requirements, speak to your broker or lender about alternatives such as bank statements. With the right documents and advice, meeting individual payslip requirements should not pose a barrier to mortgage approval.
