One of the most frequently asked questions a mortgage adviser hears is: ‘What documents do I need to get a mortgage?’ Unfortunately, there’s no quick and easy answer to that question because everyone’s situation is different. So, we’ve put together this definitive guide for you…
What does everybody need to get a mortgage?
-A copy of your passport for identification
-A copy of your driving licence for identification and proof of address
-A copy of a utility bill or bank statement dated within the last three months for proof of address
-Last three months personal bank statements (where income is credited)
-Evidence of your proposed deposit by way of three months bank statement and an explanation on how the funds have accumulated (For property purchases)
-Details of any assets (property address and estimated value) and liabilities (mortgage lender, mortgages balance, monthly payment, monthly rental etc)
-Credit report
What do I need if I am employed?
-Your last three months’ payslips or 13 weekly payslips
-Your latest P60 or the last two, if annual bonus or commission income is to be used
-All payslips where bonuses have been paid over the last two tax years
What do I need if I am a Sole Trader, a Partnership or a Limited Company?
-Your last two years personal tax calculations from HMRC or your Accountant
-Your last two years corresponding tax year overviews from HMRC
-Your last two years filed company accounts
-The last three months business bank statements
What do I need if I am a Daily Rate Contractor?
-A copy of your current contract to confirm daily rate
-Copies of all contracts covering the last two years
-A copy of your up-to-date CV or link to your LinkedIn profile to evidence experience
What do I need if I rely on property income?
-Your last two years personal tax calculations from HMRC or your Accountant
-Your last two years corresponding tax year overviews from HMRC
-Your last two years filed property income accounts
-The latest tenancy agreement(s)
-Your latest mortgage statement(s)
What do I need if I am retired?
-A letter from HMRC to confirm your state pension amount
-A pension statement(s) and your latest P60 to evidence private pension
Here at Mortgagez, our team of fully qualified mortgage advisers is on hand to help you every step of the way in obtaining a new mortgage and our service won’t cost you a penny when you go via our online portal. Visit our website today and obtain a quick quote to see how much you could save on your next mortgage.
PLEASE NOTE: Article written 16th March 2021. Information contained within this article is likely to change and therefore should not be relied upon or form part of any form of decision making without seeking professional advice. *
YOUR HOME MAY BE REPOSSESSED IF YOU DON’T KEEP UP REPAYMENTS ON YOUR MORTGAGE
Any guidance and/or advice contained within this document is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. Any technical or regulatory information contained within this document was correct at the time of producing it but as it may be subject to change it should not be exclusively relied upon when making a financial decision. The Financial Conduct Authority does not regulate advice on Buy to Let mortgages.
Article written: March 2021 060121 MZ000177
