Breakdown of all the documentation needed for a Mortgage Application
In this post I will try to clarify what documents are actually need you to be able to get a mortgage. With the effect of the Mortgage Market Review (MMR) which has now come into play the level of documentation required by the lenders as well is brokers has dramatically increased.
Fundamentally the lender is now responsible to ensure the applicant has affordability and sustainability not only at the point of application but throughout the term of the mortgage. This has ensured lenders are now taking greater care over an application with a greater emphasis on evidence of income and expenditure together with feasibility of lending throughout the term.
Employed Applicants Self Employed Applicants Benefits and other income
Self Employed Applicants
Benefits and other income
a) We will need an email advising the name and relationship of the donor.
b) Last full months’ bank statement for the donor showing the funds are available.
c) Copy of the donor’s passport.
d) We also reserve the right to do money laundering and electronic ID verification checks on this person.
e) Where there are more than two donors please speak to your Mortgage Advisor.
– 3rd Feb 14 to 2nd May 14 (from the 5th Feb 14 would be unacceptable).
a) be via the official print option. Screen prints are unacceptable.
b) include the https web address at the bottom of every page. Most banks can talk you through this process. If they is not the option for the https to be shown every page must have a branch stamp.
c) include the bank or building society’s’ name.
d) include your full name. First name initials are unacceptable.
e) include the full account number. ****1234 for instance is unacceptable.
PLEASE BE WARNED
The creation or submission of false institutional documents to obtain a mortgage is fraud and could lead you to blacklisting or imprisonment.
If you are using a Broker that says that the above documentation is not necessary please question their activity as any wrongdoing will reflect directly on you as they are operating on your behalf.