Glossary

Glossary

financial terms explained

Verification of Employment

Employment verification is usually necessary when taking out a loan, because the lender wants to make sure that the information you have given him (salary, length of employment and so on) is correct. Therefore they will ask your employer for a letter of employment verification to confirm your details. Some lenders actually have a form for your employer to fill in to save time, since the letter the employer writes might sometimes lack the necessary details the lender needs. We should stress that if you are asked for verification of employment it is nothing to worry about – nearly everyone who takes a loan has to provide one.