Once CBA give a preapproval for 80% home loan, will they want more payslips for final approval. Daughter works part time and casual too. CBA has counted both and year to date income, and it services fine. But she is worried they may want another payslip which may show less hours over next few weeks. She is in a secure teaching job, but hours can vary. Perhaps they don't count 100% of the casual income anyway? Thanks.
It's a possibility. Doesnt usually happen but thru covid the lenders are asking for current evidence of income in some instances. I've had a few ive had to show updated financials but others settled with no request for them. None were with cba tho, i tend not to write with them much.
It could be more likely now with the covit crisis, but I have not seen it happen with CBA. - or anyone else for that matter.
I had one recently where CBA asked for updated payslips when converting from pre-approval 'home-seeker' to full approval, so I would expect them to ask for it.
Quite a few lenders would want more payslips after about 6 weeks in normal times. They're even more pro-active about this these days.
If they're using the YTD income for 9 months a couple of lower payslips shouldn't impact the income figure that much? You will need to make sure that it isn't viewed as ongoing under their COVID verification. I would be prepared for the question to be asked and additional payslips provided.
