There are 4 Main Criteria required to satisfy your potential Lender.
The first of these was CREDIT (you can click on the link there if you like to see more), and the second is...
Okay...we know this is sort of an obvious one, but believe it or not, your Income/Employment is more complex than you can imagine. You may think that just because you have a job, you should be "good to go".
NOT SO FAST!
Are you Permanent Full Time? Permanent Part Time? On Contract? Commissioned Sales? Self Employed? Retired? Do you Collect a Pension? Have a Super Annuation? Have more than one job? Are you a Playboy Billionair by Day and Caped Crime Fighter by Night? Are you Batman?! Cuz if you are Batman...then always be Batman.
...that sort of got off the tracks a bit didn't it? Sorry...we get a little worked up when it comes to Batman...admit it, you did too!
Income/Employment varies from person to person. Some people are Salaried Professionals, others are Self Employed Professionals. Some people are Retired and their earnings come by way of Pension Plans.
Proving a person's earnings usually comes down to gathering a Letter of Employment and a couple of Recent Pay Stubs. But as soon as we start verifying Overtime Earnings, Work Bonuses, or Self Employed Income...then things get a bit more complex. Now we may pepper you for T1 Generals, T4's, T5's, Notices of Assessment, etc.
Not sure what Documents you will need to Prove your Income/Employment...swing on over to our Essential Documents Page and see what you need!
You can take a look at the Next piece of the 4 Main Criteria by clicking HERE.