First-time Buyer
TSB requests job confirmation for furloughed mortgage borrowers
Furloughed workers hoping to take a mortgage with TSB will need to supply a letter from their firm confirming continued employment, under temporary changes introduced by the lender.
The letter must be dated within four weeks of the mortgage application and specify the date the applicant is due to return to work.
The employer will also need to confirm whether the applicant will return to work part or full-time.
Contributions towards the employee’s salary, pension contributions and national insurance will also need to be outlined in the letter, if the applicant is returning to work after 31 July.
A coronavirus impact form must be submitted alongside the application detailing the borrower’s current salary.
The lender has also said applications for those who are employed but not furloughed must reflect salary cuts as a result of the coronavirus.
A TSB spokesperson said: “These are temporary measures to support our customers during these unprecedented times. They help our customers to borrow well and ensure the mortgages we provide are affordable to our customers.”
