When applying for a mortgage in the UK it is important for lenders to have confidence in your ability to make repayments. Before approving your application, they will need certain paperwork to verify your identity, your income and expenditure. But with all the lenders asking for different documents, it can be confusing to know what you need to provide. That is why we have created a document checklist outlining the paperwork that lenders will expect as part of your mortgage application. This way, you can be fully prepared before you begin the application process.
Which Documents Will I Need To Provide?
When applying for a mortgage, having the necessary documents readily available will greatly contribute to a fast and successful process. While the specific requirements may vary depending on the bank or building society you choose, it is recommended to have the following documents available to ensure a smooth and positive outcome to your mortgage application.
· ID – passport and/or driving licence
· A recent utility bill
· Bank statements – most recent 3 months, some lenders may request more
· Credit card statements being actively used – most recent 3 months
· Latest mortgage statement if you already hold a mortgage
A key part of your checklist will be to Evidence your Income
If you are Employed:
· Your most recent 4 months’ pay slips
· Latest P60
· Copy of your Contract if you have recently started with a new employer
And do not panic if you are yet to start, some lenders can work based on an offer of employment as far as 3 months in advance.
And if you are Self Employed:
· Your last 2 Years Tax Calculations and Tax Year Overviews*
· Your last 2 Years Company / Business Accounts
*you can access these via the Government Gateway https://www.gov.uk/sa302-tax-calculation or from your own accountant.
Trading less than 3 years? No problem, providing you have been trading for at least 12 months there will be lenders willing to help you.
Buying a home can be overwhelming with all the different mortgage options available. Whether you are a first-time buyer, moving home, investing in a buy to let property, or just looking to remortgage, we are here to help. To avoid any delays or issues, it is best to provide your documents early in the process. Speak to our team today and let's get started.
Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Not all Buy to Let Mortgages are regulated by the Financial Conduct Authority.
Published by Beechwood Mortgages Ref: 219335Â with review and approval from Stonebridge Mortgage Solutions Limited who is authorised and regulated by the Financial Conduct Authority Ref: 454811.