Documents needed when applying for a mortgage

[Martin@AS Financial]

Afternoon all.

I recently posted this in response to the Accord thread in the business section of the forum. However, I believe that it is worth posting again in this section as a go to check list for when applying for a mortgage. Banks are a lot more stringent today in their lending criteria and it is quite often a shock for a client who has not applied for a mortgage prior to 2008 in terms of the amount of documents required. Hopefully the list below will help and whilst it is not exhaustive, it should prevent too many nasty surprises along the way leading to unnecessary delays:


- Proof of ID
- Proof of residense - ie a utility bill from the last 3 months (not a mobile phone bill)
- Your latest 3 salary credited bank statements
- If you own already - your latest mortgage statements for your residential and any buy to lets
- Your last 3 years of accounts & SA302's
- A copy of your current and previous contract
- A copy of your CV to demonstrate cotracting experience
- Proof of deposit - this is something lenders are becoming more and more keen on seeing as they get nervous when large sums of money are being moved around. Some banks dont just want to see the money in the bank, they are interested in how it was built up. We recently had a client who had to supply 6 years worth of bank statements to demonstrate how she had saved it.

[escapeUK]

Some of your list made me chuckle.

Utility bill? All online paperless, I can make the copies it prints off to say I live anywhere you like.

3 bank statements showing me moving money from my business account to my personal account, what does that prove?

6 Years of bank statements to prove to you where I got my money from? Who keeps those anyway, and most banks are moving to paperless as they think people dont need them.

Frankly id rather save up for another 2 years and pay cash. But thankfully my bank manager who manages both my business and personal accounts doesnt need all that bulltulip and offers a better deal than similar people to yourself when I looked into it.

[Zippy]

[Ignis Fatuus]

Some of your list made me chuckle.

Utility bill? All online paperless, I can make the copies it prints off to say I live anywhere you like.

I love the way that when you open an account they want to see printed statements from your existing accounts, then the next thing they do is encourge you to "go paperless".

[Sysman]

I love the way that when you open an account they want to see printed statements from your existing accounts, then the next thing they do is encourge you to "go paperless".

I like that one. The last time someone asked for my bank statements what they got was a spreadsheet printout.

I could have done whatever I wanted there, but they took it as gospel.

[norrahe]

I love the way that when you open an account they want to see printed statements from your existing accounts, then the next thing they do is encourge you to "go paperless".

Not only that but most banks only keep 6 months online these days.

[northernladuk]

- Proof of ID
- Proof of residense - ie a utility bill from the last 3 months (not a mobile phone bill)
- Your latest 3 salary credited bank statements
- If you own already - your latest mortgage statements for your residential and any buy to lets
- Your last 3 years of accounts & SA302's
- A copy of your current and previous contract
- A copy of your CV to demonstrate cotracting experience- Proof of deposit - this is something lenders are becoming more and more keen on seeing as they get nervous when large sums of money are being moved around. Some banks dont just want to see the money in the bank, they are interested in how it was built up. We recently had a client who had to supply 6 years worth of bank statements to demonstrate how she had saved it.

That's me stuffed then. Haven't racked any cots that I can think off.