Mortgage Documents Needed for your application
1. Proof of Identity
Your lender will require valid identification to verify your identity. Commonly accepted documents include your passport or driver’s license but other forms may be considered. Make sure these documents are up-to-date and match the information on your application.
2. Proof of Income
Employed Income & Fixed Term Contractors
If you’re employed, we’ll require your latest 3 months payslips and most recent P60.
Self-employed
Latest two years tax returns, tax calculations and tax year overviews or potentially we can accept an accountants certificate covering the last two years. If you are a shareholder of a limited company we will also require your latest years company accounts.
Benefit Income
Award letter and latest 3 months bank statements.
Pension Income
State retirement pension (SRP) – latest annual pension statement or award letter
Private pension – latest annual pension statement or award letter
3. Bank Statements
Lenders want to see your financial stability. Gather at least three months’ worth of bank statements for all accounts (checking, savings, and investment). Highlight any large deposits or withdrawals to explain their source.
4. Credit Report
Lenders rely on a credit report document to evaluate your creditworthiness. Obtain a copy of your credit report from a reputable agency. We recommend check my file. Click here to download your free copy. Try it FREE for 30 days, then £14.99 a month – cancel online any time.
5. Evidence of Deposit
Your last 6 months bank/savings statements. If any of your deposit is coming from the sale of your home, please provide your most recent mortgage account statement and your ‘memorandum of sale’.
For any ‘gifted deposit’, the donor will need to supply their ID and ‘complete a gifted deposit form’.
6. Existing Properties
If you own any additional properties or maybe have a buy-to-let portfolio we will need to confirm the below information from all properties.
- Full address.
- Current Market Value
- If rented, the rent they achieve.
- Mortgage balance outstanding.
- Name of the mortgage lender.
- Monthly mortgage payments.
Download our free checklist
Download our free checklist to help get organised and prepared ready for your mortgage application.
Conclusion
Remember that each lender may have specific requirements, so it’s essential to communicate openly with us about your situation. Organise these documents early as they will be required before we can submit a full mortgage application.
Please note that this article is a general guide, and lenders have the right to request additional information once they review your application.
Frank Mortgages is a trading style of Frank Mortgage Solutions Ltd. Frank Mortgage Solutions Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
Registered Office: Frank Mortgages Ltd,414 Gorton Road, Stockport, SK5 6RS. Registered Company Number: 15793241. Registered in England & Wales.
