When considering the purchase of your new home, we understand you’ll have lots of questions. And no doubt one of those questions will lead to another few that you hadn’t even considered.
In order to help us help you, here is a handy checklist of the things your mortgage adviser may need in order to help secure the right mortgage for you - plus it’ll help speed things up a bit if you come prepared too!
From our initial call with you, here is a list of the information we’ll need:
1. Employment details:
- Start date, company address and telephone number
- Basic salary and details of any additional income sources
2. Outstanding credit :
- Personal loans, credit cards, hire purchases, financial commitments
- Outstanding balance on credit
- Monthly payment
- Name of the person who the credit is registered against
3. Existing mortgage details (if you already have a mortgage):
- What is the amount borrowed?
- Who the lender is?
- What is the rate?
- Is there an early repayment charge?
At the appointment, or the next conversation we have, we’ll need to see:
1. Proof of identity:
- Current UK/EU passport
- Current photocard driving licence
- National Identity Card/UK Border Agency ID card
2. Proof of residency:
- Current photocard driving licence (only if passport is also provided for ID)
- Utility bill/credit card or bank statement, less than 3 months old. (Please ensure that your address does appear on the printed statement as some online banking statements may not show your address).
3. Last 3 months bank statements/credit card statements
These can be provided as paper copies or electronic copies can be emailed to your mortgage adviser.
4. Last 3 months payslips/P60 (if employed)
This allows your mortgage adviser see what your current incomings are, against any outgoings that you have (point number 3). Overall, this gives us a sound understanding of your financial situation.
5. Last 3 years audited accounts/SA302 form (if self-employed)
As a self-employed applicant, lenders will require some additional information to prove your income. Our advisers can confirm what’s required as this can vary from lender to lender and depends on the type of self-employment you are in.
6. Proof of deposit
Deposits can come from many sources. This may be a statement from a bank, a gift letter from a parent or some other specific documentation. Our advisers will be able to confirm exactly what is required in your circumstances.
Buying a house is a big decision. You need to feel comfortable and understand how the process works, and that’s where we step in. We can help answer any questions you might have to ease your mind. We’ll also handle your entire mortgage process through to completion, to make sure the deadlines are met, and everything goes ahead as smoothly as possible.
If you have any further questions about what’s needed for your mortgage application, please feel free to get in touch via our contact form or by calling us on 0141 7798010
We look forward to hearing from you.