Making Mortgages Easier!
Here’s what we’ll need for all applicants to make your mortgage lives as easy as possible…
We want to keep things simple, so here is the ultimate mortgage document checklist so you know exactly what you need when applying for a mortgage. No matter what type of mortgage you are applying for – Residential, Buy to Let, Ltd Company or HMO… Just follow the list below to identify which document/s apply to you and any co-applicants;
This can be:
- Your current signed passport;
- Or your current photocard driving licence (full or provisional);
This can be:
- Your current photocard driving licence (full or provisional). Sorry – you can’t use the same licence for both photo and address ID, we’d need another document too.
- Current council tax bill dated within 3 months.
- Bank Statement or Credit Card Statement showing your name and address dated within 3 months.
- Utility bill including water, landline, electricity or gas bill. Sorry, no mobile phone bills.
Where you cannot provide the full documentation required your broker will not be able to process your case and you may experience significant delays in your application.
- Retired – If you are lucky enough to be retired, we’ll simply need sight of a private pension statement or state pension entitlement.
- Employed – If you are employed – we’ll simply need your last three payslips and your most recent P60 please.
- Self-employed – we will require your personal accounts:
- Latest 3 Year’s accounts and
- HMRC self assessment documents for the last 3 years (e.g. SA302) plus confirmation of receipt from HMRC.
- Please provide the last 3 years Tax Year Overviews to support the SA302’s.
You can get your SA302 form online instantly, assuming you are up to date with filing your self assessment tax return forms.
Check with your broker exactly what you need. But the two documents you are most likely to need are:
- Tax Calculation – which is a summary of your total earnings and tax from your submitted tax return;
- Tax Overview – which confirms that you have fully paid up your tax.
Each tax calculation and overview is for one tax year. So if your application requires evidence going back 3 years then you need 3 tax calculations and 3 tax overviews.
How to Get Your SA302 Tax Calculation Form Online
- Login into your HMRC personal tax account
- Choose ‘More Self Assessment Details’
- Click on ‘Get Your SA302 Tax Calculation’
- Continue to Your SA302
- Select the option to ‘Print Your Full Calculation’
- To print for a different tax year choose ‘Tax Return Options’ on the left hand menu
- Select the year you require
- Choose the option to ‘View Your Calculation’
- Click ‘View and Print Your Calculation’
How to Get Your Tax Year Overview Online
- Login into your HMRC personal tax account
- Select View Account on the left hand menu
- Click Tax Years on the left hand menu
- Choose the required Tax Year from the drop down menu and hit Go
- Click ‘Print Your Tax Year Overview’
How to Get Your S302 Form by Phone
You can get your SA302 form from HMRC by phoning them on 0300 200 3300. They will then post the document to you.
- Self-employed – what type of self-employed are you?
Pdf documents of the below are perfect. We are happy to request these documents from your accountants if you grant us access.
- Sole Trader – We’ll need your latest 2 years ‘Tax Calculations’ and ‘Tax Year Overviews’ (We may be asked by certain lenders to provide your SA100 or Tax Return) – here’s a guide of how to download these HMRC documents →
- Partnership or LLP – We’ll need your latest 2 years ‘Tax Calculations’ and ‘Tax Year Overviews’ (We may be asked by certain lenders to provide your SA100 or Tax Return) – here’s a guide of how to download these HMRC documents →
- Limited Company – We’ll need your latest 2 years tax calculations and tax year overviews (We may be asked by certain lenders to provide your SA100 or Tax Return) – here’s a guide of how to download these HMRC documents →.
For a ltd co we will also need the latest 2 years company accounts (if available) showing 3 years figures.
- Your most recent, last 3 months personal bank statements for all applicants (where salary/personal income is credited)
PDF downloaded online statements will usually be accepted as long as they show name and address – sorry, we cannot accept a ‘screen grab’.
- We’ll need to understand where your deposit is coming from. If it is a cash deposit, personal savings or a director’s loan or inter-company loan, we’ll need sight of the last 3 months of bank statement showing these funds.
- If your deposit is being gifted to you as liquid funds, we’d need sight of the donor’s bank statements showing proof of those funds please, it’s likely we’ll also need a signed letter from the giftor of the funds, but this will be lender dependent.
- No properties yet – If you have no properties yet, that is absolutely fine, we will help you become a landlord.
- 1-3 properties – If you are employed, retired or other, it is likely that the lender will also need to see your latest 2 years ‘Tax Calculations’ and ‘Tax Year Overviews’ for the property portfolio. (We may be asked by certain lenders to provide your SA100 or Tax Return)
- 4 properties or more – If you are employed, retired or other, we will definitely also need your latest 2 years ‘Tax Calculations’ and ‘Tax Year Overviews’ for your property portfolio. (We may be asked by certain lenders to provide your SA100 or Tax Return).
If you have 4 or more properties, we cannot process your transaction without this documentation.
What format of documents do I need to send?
We’ll need a clear scan or photograph of your Photo and Address ID please. Or downloaded pdf documents are perfect for address ID.
We’ll run an electronic ID check alongside your documents, please be aware that lenders may wish to see a certified copy of your identification.
We’re stating the obvious now, but all photo ID must be signed, and valid and all address ID must show name, date and address. There are still some banks (you know who you are) giving copies of statements not showing name and address!
Although you can post originals to us, downloaded pdf’s are best for any utility bill’s or bank statements you may be sending to us.
Please note that the above isn’t an exhaustive list, since lenders will always reserve the right to request additional documents where they feel it is warranted. The above documents will however ensure that we can confirm that our initial advice and choice of lender are correct and accurate in terms of lending policy and criteria, we can complete an application form accurately and that the majority of lender document requests are held on file whilst handling your application.
Thank you in advance.
We don’t tend to publish mortgage rates on our website. In most cases rates are negotiable and based squarely on the individual circumstances of the borrower, their plans, assets and income.
Firco Mortgages is an independent mortgage broker that has strong relationships with the key lenders in the UK mortgage market, including those private banks who do not have a high-street presence. We arrange bespoke mortgage solutions for our clients, providing a tailored one-to-one advisory service, delivered face-to-face or remotely, depending on what suits you.
Please click on ‘Become a Client, Enquire Now’ at the bottom of the page and complete the enquiry form and we will normally contact you within the same working day during business hours or if you would prefer us to contact you outside normal business hours then please advise and we will quite happily do so. Alternatively you can email us with details about your requirements to email@example.com or call us on 0151 372 0388
The above article is purely for information purposes and does not constitute advice.
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