Quite simply, it’s the documents that get you the mortgage. We like to think we’re pretty good, but without your documents, we can’t really know how your mortgage application will go! It’s essential we check your documents before we apply, to be confident in the outcome.
We call this Packaging the mortgage. It not only gives us the confidence that your mortgage will move through the assessment process quickly, but it also helps us pre-empt and solve any hiccups that might have otherwise occurred.
There are some key areas that your documents will need to satisfy, as outlined below. You will need documents to prove:
- Identification– Who you are.
- Address– Where you live.
- Income– What you earn.
- Expenditure– What you spend and in turn, what you can afford.
- Deposit– Where your funds have come from.
Once we have the above documents your mortgage will be submitted and you’re off to a great start!
You will be pleased to hear that the mortgages are becoming more and more 21st century. Lenders want to make your life as easy as possible nowadays, meaning they can accept good quality copies of documents. It’s important to note that lenders reserve the right to request originals, but in many instances they can agree your mortgage, without you needing to venture to the post office!
If you don’t have access to a scanner, we recommend a smartphone app called ‘Camscanner’ which converts your phone into a virtual scanner and even converts the documents to PDF format for you.
Here are the documents we typically require for each mortgage applicant.
One of the below*
- Valid Passport
- Valid Driving Licence
- EU/EEA National Identity Card
- Northern Ireland Voters Card
- Firearms certificate or shotgun licence
Two of the below*
- Recent Utility Bill
- Valid Driving Licence
- Recent Banking Correspondence
- Council Tax Bill
- Benefits notification letter
- Employed – Last three months’ payslips
- Self Employed – Last three years Tax Calculations with accompanying Tax year Overviews
- Any other income will be verified via bank statements
We will need to see the last three months bank statements. These statements will need to show your income and general day to day expenditure so occasionally more than one account is required.
- Savings account statement
- Gifted deposit letter from the giver. *your adviser will help you with this.
Depending on your situation you may need other documents as well. You will be informed ASAP if any further documents are required.