I’ve just received a phone call from Barclays stating that an application I had recently submitted having obtained a decision in principle, booked the funds and sent the required payslips, has failed on income.
The girl I spoke to at Barclays was calculating the borrower’s net income. When I explained that she should be taking the applicant’s weekly gross wage and multiplying this by 52, I was told that I was wrong and that Barclays needed monthly payslips, because it calculated income monthly.
I said that if she multiplied the weekly gross figure and divided by 12 she would have a monthly income before tax. As a result, while my calculation of the client’s income was about £20,000, Barclay’ calculation was about £14,000.
The girl at Barclays has had to refer the query to her superviser to clarify the situation.
But while I am awaiting for a call back, can anyone confirm if I have finally gone bonkers?
Name & address supplied