It does vary from lender to lender and based on your circumstances, but broadly here is what you need to get a mortgage:
Primary Identification documents
This can be any one of:
- Current Signed EC Passport (ask us if you are not an EC Citizen, we should still be able to help)
- Current Full Signed EC Driving Licence (as above) - both card and paper counterpart required.
- Ask us about alternatives if you don't have these.
Proof Of Address Evidence
Any of the following documents dated within the last three months
- Postal Bank Statement
- Utility Bill (phone, gas, water, electric, tv, council tax)
- Ask us about alternatives if you don't have these
Proof Of Income (Employed):
- Last Three Months Payslips
- Latest P60
- Last three months bank statements showing salary going in (online usually Ok)
Proof of Income (Self Employed) :
- Last three years accounts
- SA302/Tax Returns
- Last Three months personal and business bank statements (online usually Ok)
- Latest contract if appropriate for your profession
REMEMBER
If your mortgage term runs beyond any applicants 65th birthday you will need to prove your pension income and if you want an interest only mortgage you will need to show evidence of how you intend to repay the capital.
If you currently have or have previously had a mortgage:
Most recent mortgage statement (for each mortgage you have)
Credit rating
Important : If you are in any doubt whether you have a good credit record you should use the free trial to check your credit report. Every lender will credit score you at least once so you can't 'hide' it. If you have a poor credit history then speak to a mortgage adviser who can advise you accordingly.
Deposit source
Lastly don't forget if the deposit for your home purchase is not the sale proceeds from your previous home you will need to show where the money is from. This can be savings book, statement etc or if someone is gifting you the money they will need to provide a letter (ask us what it needs to say) and proof of the funds in their account.
The above article was produced by Dean Mason - Cemap, Cert PFS. Practice Principal at Masons Financial Planning
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