Adverse Credit Mortgage Broker

6 pieces of paperwork required for a mortgage application

Below is a list of information lenders will want to see before offering you a mortgage. All of these documents we must have the originals off. If you send us copies or not in the format outlined below or sections missing, we will have to ask you for them and this will delay you getting a mortgage offer.

If you supply all of the following information and in the correct format, you will receive your mortgage offer quicker.

1. Proof of identity and address

All financial firms are required by law to get proof of identity and address. You will need at least one proof of identity and one proof address for each person on the mortgage application. There are 5 simple rules;

• One item for each person from list A (below).
• One item for each person from list B (below).
• No single item can be used for both proof of identity and address.
• No single item can be used for more than one person.
• No mobile statements or statements from the Internet.

List A – Proof of Identity – normally one of the following

• Current Full Signed Passport (or EU state ID card).
• Current EU Photo Driving Licence (plastic & paper parts)
• Firearms/shotgun license.

List B – Proof of address – normally one of the following

• Latest Residential Mortgage Statement.
• Latest Council Tax Bill.
• Bank/Building Society statement dated within last 3 months.
• Utility Bill dated within the last 3 months (not a mobile phone bill).
• Current EU Photo Driving License incl. paper counterpart
• Current UK Paper Driving License.

2. Proof of income

Employed

• Latest 3 months payslips.
• Latest P60.

If you receive paper payslips and P60 send those to us. If you only receive them online you will have to print them out and ask your Manager, HR or Payroll Department to sign, date, confirm position and stamp using a company stamp each page.

Self Employed

• Accounts
• Latest 3 years or SA302’s from the Inland Revenue.

Lenders are relying more on SA302’s that are produced by the HMRC free of charge. I suggest that you call HMRC on 0300 200 3310, quoting your 10 digit Individual Tax Code and Nation Insurance Number, and ask them for the last three tax years’ SA302s as you will need them for a mortgage application. Some lenders only want 1 years but you may as well ask for 3 years.

3. Bank statements

The biggest delay we experience when gathering all the information lenders want when considering you for a mortgage is bank statements.

They are very interested in how you manage your finances from the level of your overdraft to returned cheques or commitments not declared on the mortgage application form. They will want to see your last 3 months bank statements to assess whether you can afford the mortgage you have applied for and to cross check your income and outgoings you have declared on the mortgage application form.

If you send statements that are not in the format described below, we will simply have to ask you for them again which will delay you receiving a mortgage offer.

Latest three months bank statements in the following formats only:

• Posted originals from your bank to you or
• Printed from the internet clearly showing the http//… code on each page together with your name, account number and sort code on each page or
• Printouts stamped and signed by your bank

4. Proof of deposit

• If the money is in a bank account, a recent bank statement.
• If the money is in an investment plan, a recent investment statement
• If the money is a gift from family or friends, a letter confirming this.

5. Proof of mortgage payments

Lenders will want to see that you have been making your mortgage payments on time, every time. These might show on your credit file when the lender carries out a credit search when you apply for your mortgage but if they don’t, look for your latest mortgage statement and have it ready in case we ask for it.

6. Valuation

This will be arranged by the lender – you cannot instruct a surveyor of your own as lenders have a panel of valuers they select from.

Years of Experience

I specialise in Bad Credit Mortgages for people who have a poor credit history because of any number of reasons.

Choice of Lenders

I am a Whole of Market, Mortgage Broker meaning I can talk to every lender to see about finding you the right mortgage.

Saving You Money

As a specialist Mortgage Broker for over 30 years I have a great deal of experience that will help save you time & money.