1. MPowered Help Centre
  2. Residential Lending Criteria

Umbrella or Agency Employed on PAYE

Evidence we’ll need

  • A copy of the current contract providing 12 or more continuous months of employment, with a minimum 3 months remaining;
    or evidence of a new contract;
    or evidence of 2 year's continuous service in the same type of employment
  • Latest 3 months’ payslips (latest 12 weeks’ payslips if paid weekly)
  • Latest 3 months’ personal/business bank statements showing receipt of income
  • Latest P60

How we calculate income

For non-day rate contracts: we'll calculate the income based on an average of the last 3 months’ payslips, minus any holiday pay received

For day rate contracts: we'll take the day rate multiplied by 5 (or lower if contract is for less than 5 days per week) multiplied by 48 weeks