Income referencing causes delays and slows down the process of getting applicants approved. We’re making that faster by getting verified data directly from an applicant’s payroll.
Now we’re able to gather data directly from the accounting packages used by employers, which we’re able to validate with one click from the applicant.
If we’re unable to confirm the salary using the data from accounting packages, eligible applicant’s are directed to HMRC where they’re able to verify their income.
So how does it work?
If an applicant is:
Permanently employed
In the UK
Then they will be asked to provide evidence of income in this way.
Guarantors are also eligible to instantly verify their income in this way.
In our Applicant Wizard we prompt applicants through some short steps, which include giving consent for us to connect to their employers’ payroll system.
FAQs
What percentage of employed people in the UK are covered by this methodology?
80% of UK employed individuals are covered. This is done by taking data from major payroll providers, such as Sage.
Is payroll data compared to HMRC data?
As the data is the same data that payroll providers send to HMRC, this isn’t necessary.
If applicant’s data has been validated by the payroll providers we do not take the extra step of validating with HMRC.
Do you use a data provider to help with this?
We partner with Konfir to provide this service.
