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An employer's statement confirms an employee's employment and income, and is virtually indispensable for anyone wishing to take out a mortgage or loan. You are not obliged to issue one, but if you do, the content must be accurate — after all, you are declaring truthfully.
What is an employer's statement?
An employer's statement is a standardized document in which you, as an employer, confirm that an employee is employed by you, what they earn, and the nature of the employment. Lenders use this information to assess the employee's financial stability.
Am I required to provide an employer's statement?
There is no legal obligation to provide an employer's statement, but it is customary and often essential for the employee. Refusal is possible, but consider your employee's interests and reasonableness; there is rarely a good reason to refuse.
Check the accuracy
If you complete an employer's statement, it must be accurate. You must provide the information truthfully; incorrect information can lead to liability if the lender suffers damage as a result. Therefore, complete it carefully and factually, and not present a rosier picture than reality.
The letter of intent for temporary contracts
With a temporary contract, lenders often request a letter of intent: a statement that you intend to extend the contract or convert it into a permanent one, provided your performance remains consistent. This is not a firm commitment, but be aware of what you are signing and phrase it carefully.
Frequently Asked Questions
Do I need to provide an employer's statement?
There is no legal obligation, but it is customary and often essential for the employee. There is rarely a good reason to refuse.
Am I liable for the content?
You declare the information truthfully. Incorrect information may lead to liability if the lender suffers damage as a result.
What is a letter of intent?
A statement accompanying a temporary contract that you intend to extend it subject to continued performance. It is not a firm commitment.
Questions about employment documents?
Our legal experts advise on employer statements and draft your employment contract . View our employment lawteam or schedule a free consultation.
