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Halifax makes changes to income verification process

Halifax Intermediaries is making a number of changes to the way it verifies income.

From tomorrow, intermediaries will have to provide a payslip where the customer is employed and with a basic salary only.

Where the client is employed and has overtime payments, Halifax will require three payslips dated in the past three months.

Where the client is receiving state pension or child benefit, the lender will require one bank statement dated in the past month.

For customers who receive a bonus, Halifax will ask to see the payslip where the bonus was paid or their P60.

And where the client is self-employed, Halifax will ask for the latest three years’ SA302s.

A spokeswoman says: “The new approach means that we will be consistent in the documents that we ask for. We have also introduced some updates to our website. They are just two of the things we will be doing over the coming months to make it easier to do business with us.”

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