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It’s no secret that mortgage applications can be time consuming, so it pays to be prepared before you dive in. Here you will find out what documents you will need to have ready ahead of your application to ensure everything goes smoothly on the paperwork front.
The information below is aimed at residential applicants who are taking out a standard mortgage. If your application is more complex - such as a buy-to-let or expat mortgage - you will need additional paperwork and should talk to one of our brokers before you begin.
What documents are needed for a mortgage application?
The documents you need can be split into three different categories:
1. Proof of ID and address
No mortgage lender will approve you for finance unless they know exactly who you are and where you live. Here are the documents they will accept as proof of these things:
- Passport or driver's licence: You’ll need valid photo ID as a starting point. Check it’s in date, and it can help avoid complications if your current address is listed.
- Utility bills: These are acceptable as proof of address, but it will need to be your most recent bill. Gas, water, electricity or any other household utility will suffice.
- Bank statements: Will also help verify your ID and address. They will need to be dated within the last three months for the lender to accept them.
2. Proof of income
The way you evidence your earnings and the paperwork you need will be different depending on whether you are in full-time employment or self-employed:
Employed applicants
Will need three months’ wage slips. They will need to include yours and your employer’s name, the payment date, the amount of net pay and the gross pay amount too.
If you are new to your current role, it is wise to have your P60s ready as well.
Self-employed applicants
You will need to provide your self-assessed tax return forms (SA302) and tax year overviews, which can be requested from HMRC. You will also need an accountant's certificate. These can be provided by your lender, to be completed by a certified accountant.
Evidencing supplemental income
If you are declaring any supplemental income, such as benefits or bonuses, you will need to evidence these earnings to the lender. The table below shows what proof you will need.
|
Income Source |
Documents Required |
|
P60 and/or three month’s wage slips |
|
|
Child benefits and tax credits |
HMRC letter confirming your benefits |
|
State pensions and state benefits |
Department of Work and Pensions letter |
|
Private pension or annuity income |
Pension payslip |
|
Fostering income |
Letter from local authority confirming how many children you care for and how long you have been fostering for |
|
Rental income from another property |
SA302s showing the income is declared, tenancy agreements and bank statements |
3. Proof of outgoings
You will need to provide a breakdown of your fixed outgoings for the affordability assessment. For this, you will need to declare the following:
- Council tax
- Utility bills
- Broadband
- Loan or credit cards agreements
- Car payments
- Childcare costs
The good news is that the bank statements you will need to prove your ID and income can also be used to evidence your fixed outgoings.
If you have questions about the documents you will need for your application, or are unable to obtain them, get in touch with us and one of our mortgage brokers will help
