Hello everyone! First time poster and hopefully this will be the first of many.
So just to give you a quick overview, I work as an engineer for my father and I get pay slips every month and it is all legal, taxes are paid and everything. On my pay slips you can see that I get a certain amount every month. The thing is that this certain amount is not put into my account in one go. I would get part of that amount in my bank account one day, a week later I would get paid the other part in cash or I would get the rest in cash over a few days. My main point is that I do not get all of my net income in 1 day. It is spread out over 1-2 weeks. My taxes are paid though and everything is legit.
My bank statements obviously reflect this scenario. Now here is the question....if I am applying for a mortgage and the lender asks me for my bank statement, will they raise an issue in regards to this? Would they ask why is your pay slip not matching your bank statement? Would my credit rating be tarnished because of this? Keep in mind that I am a first time buyer so I am guessing they will be more strict with me than with existing home owners. I am afraid that I could pay a deposit and have that all lost because the lender decides that I am very risky due to my bank statement. I mean its not like my bank account shows nothing. I have enough to pay my mortgage every month...Well if anyone could enlighten me then I would be extremely grateful.
Thanks
So just to give you a quick overview, I work as an engineer for my father and I get pay slips every month and it is all legal, taxes are paid and everything. On my pay slips you can see that I get a certain amount every month. The thing is that this certain amount is not put into my account in one go. I would get part of that amount in my bank account one day, a week later I would get paid the other part in cash or I would get the rest in cash over a few days. My main point is that I do not get all of my net income in 1 day. It is spread out over 1-2 weeks. My taxes are paid though and everything is legit.
My bank statements obviously reflect this scenario. Now here is the question....if I am applying for a mortgage and the lender asks me for my bank statement, will they raise an issue in regards to this? Would they ask why is your pay slip not matching your bank statement? Would my credit rating be tarnished because of this? Keep in mind that I am a first time buyer so I am guessing they will be more strict with me than with existing home owners. I am afraid that I could pay a deposit and have that all lost because the lender decides that I am very risky due to my bank statement. I mean its not like my bank account shows nothing. I have enough to pay my mortgage every month...Well if anyone could enlighten me then I would be extremely grateful.
Thanks