Documents You Need to Apply for a Mortgage:
You might feel tempted to include everything and anything related to your finances during your mortgage application. However, there is really no need for you to go this far.
Before you dig out your bank statements that date as far back as 2013 and search through your old files, you might want to stop right there.
While lenders do require you to provide a fair number of information before they agree to provide you with a mortgage, you will be able to save both effort and time if you just focus on those documents that they need and should see.
It doesn’t matter if you want to remortgage or you are applying for your first mortgage as there are several pertinent documents you need to apply for a mortgage and that any potential lender will always be interested to check and see.
Bank Statements for Three Month:
Both your lender and yourself will need and want to see the statements that show your outgoings and your income. It will help the lender assess your situation and verify whether or not they can provide you with the right mortgage that suits you best.
Since many banks today provide online banking, all you have to do is log into your account for online banking to have your statements directly downloaded to your computer. Through this, there is no need for you to scan anything at all, with the statements automatically saved in PDF format.
Payslips for Three Months:
Most people today receive their payslips online and it makes it easier and faster to download these as PDF files. In case you are still getting the traditional papers payslips, you still need to scan these and send them as PDF files. Several payslips can be scanned on a single page instead of one page for every payslip.
Your ID:
You also need to prepare a scanned copy of your valid ID such as your driving license or passport.
Your Address ID
Bank statements, utility bills, and council tax bills are all considered as acceptable forms of address identification. These documents should be dated for the past 3 months.
Required Documents for Self-Employed Applicants:
If you are self-employed, whether you are a sole trader, LLP, partnerships, or limited company director, aside from the stated documents above, you still need to provide some other additional documents:
- 2 to 3 years accounts and 2 to 3 SA302s
- There are also lenders that will request for business bank statements for the past 3 months.
If you will buy a home, you also need to prepare some extra documents such as the following:
- Proof of deposit that can either be a bank statement or saving statement
- For gift deposits, you might also be given a Confirmation of Gifted Deposit form that you should fill in together with bank statements for 3 months of the person who gifted the deposit.
If you got an existing mortgage, you also need to provide your current mortgage statement.
Take note that you might still be asked to provide other documents such as the following:
- Evidence of right to reside such as residency cards or visas
- Evidence of non-earned income such as child benefit, tax credits, and maintenance
- Evidence of other additional income such as overtime, commission, and bonuses