Documents you need to get the mortgage application approved
Applying for a mortgage guarantees you’ll be handling a lot of paperwork, so it pays to get organised before making your mortgage application.
Your mortgage broker will need to prove your identity, income and day-to-day expenses in your mortgage application.
Proof of Identity
A lender will need to check your identity and that someone isn’t fraudulently trying to purchase property using your name. They will want evidence of your identity and will usually ask for the following:
- Passport
- Driving Licence
- Utility Bill
- Bank Statement
- Credit Card Bill
Start by checking that your passport and your driving license is valid and show your current address. Your utility bill, bank statement and credit card bill should be within the last three months. Next, check that all the documents have the correct spelling of your name and address.
Scanning these documents into a secure folder online should help save time as it’s likely you will be asked for copies of these documents more than once.
If you’re buying a property with your partner, they will also need to gather this information. If you have joint bank accounts or have both your names on utility bills, you will also need to include copies of these.
Proof of Income
A mortgage lender will not be able to consider a mortgage application without having evidence of your earnings.
The documentation you are likely to need will be different depending on whether you are employed or self-employed.
Employed/PAYE
Payslips
Again, these should be your most recent payslips for the last three months or the past six weeks if you receive your pay weekly. Check that your payslip has the correct spelling of your name. Your payslip should also show your employer’s name, the date it was issued, and your net and gross pay. If you receive a commission, overtime or bonuses, make sure you can evidence this too.
P60
Providing a copy of your most recent P60 is helpful if you have recently changed jobs. It’s worth digging it out so that you have easy access to it, even if you’ve been in the same employment for several years.
Benefits/Local Authority
If you receive benefits, such as child benefit or income from fostering, provide a copy of the most recent letter regarding this income.
Pension
If you receive a pension, provide copies of your pension payslip.
Self-Employed
SA302 and Tax Year Overviews
If you don’t have copies of these on file, you can request them from HMRC. You will need them for the last two tax years.
An Accountants Certificate
Your lender or bank will provide this to you, and a qualified UK accountant must complete it.
Additional Income
You will need to provide evidence of any other sources of income. For example, other income could include other employment, benefits or pensions.
Proof of Expenses
A lender needs to understand your lifestyle and other financial commitments before approving any lending. The easiest way to do this is to provide bank statements for at least the last three months.
Getting organised and knowing what documents you need to get the mortgage approved is an excellent way of helping your mortgage broker. They will be better able to research the best mortgage options for you, and you’ll be maximising your chances of getting your application accepted.
What do you want to know about the mortgage application process? Leave us a message or call 0800 1 777 333
