When purchasing a property, there are various documents required for both the lender and ourselves. This is for customer verification, affordability, checks for any fraudulent activity and anti-money laundering checks. The documents typically required are:

 

For all applications:

• Passport and/or drivers license - both in date, expired documents are not accepted 
• Utility bill dated within the last 3 months - the only documents accepted are: 
• Gas 
• Water 
• Electric 
• Land line phone bill 
• Bank Statement 
• It’s also important that the address and name on the document matches that of your passport and drivers license 
• Last 3 months bank statements 
• This should be your current account where your income is paid into 
• If you have an addition account which you transfer your salary to for day to day spending then you must also provide the other account 
• This must include your name, address, account number and sort code at the top of the document.
• Transactions statements which have partial details are not accepted 
• the documents can not be alternated or redacted in any way, all text and numbers must be visible 
• Proof of deposit 
• If your deposit is savings then this can be in the form of your latest savings account statement. This must include all the same information as explained under bank statements 
• if any part of the deposit is a gift 
• The person/s gifting this must provide their passport and/or drivers license as part of anti-money laundering checks 
• The person/s gifting this must provide a copy of their utility bill - as explained above 
• It is likely the lender will ask for a gifted deposit letter to be signed - majority of lenders have their own template, however should a lender not have a template they will advise as to how the letter should be presented and addressed to 
• If your deposit is within an ISA account - please provide the latest statement showing the balance
• Inheritance - you will be expected to provide proof of said inheritance 
• This can be by a letter confirmation from the solicitor who executed the will/estate 
• Bank statement showing a transfer from the solicitor and/estate 
• Crypto currency - this subject is ever evolving with select lenders currently accepting a deposit from Crypto currency earnings. For the avoidance of any doubt you can not pay your deposit in the form of crypto currency and any proof surrounding the earnings here will be provided upon request
• Signed compliance documents provided by ATM 

 

Employed individuals may provide:

• Latest payslip if this is all you currently have due to a new role starting 
• you will also need to provide a signed contract and a job offer letter with confirmation of duties, role and salary 
• Last 3 months payslips if applicable 
• If you receive bonus or commission
• Annual bonuses - majority of lenders require a minimum of two years worth of annual bonuses with acceptable proof including 
• The payslips 
• P60 for the latest year if you can only demonstrate one years worth of bonus 
• P60 for the last two years 
• Monthly commissions - majority of lenders require consistency of commission and acceptable proof including 
• P60 for the latest year if you can only demonstrate one years worth of commission 
• P60 for the last two years 
• 12 months worth of payslips if the above is not attainable 
• 24 months worth of payslips of the above is not attainable 

 

Self employed individuals

• Sole Traders 
• Last two years tax calculations (also known as SA302) this document will confirm the total amount you have been paid after tax 
• Last two years tax overviews - this document will confirm how much tax you have paid in direct correlation to the tax calculations. This document must show that it is 100% completed and the tax payable should match the tax calculation as listed above to the last penny. If the tax payable does not match in any way the lender will request for you to have this amended 
• It is possible the lender will request a full tax return for the last two years - this document is typically 10 to 16 pages long and will come in various colours starting from green, pink and then orange 
• If you have only submitted one years worth of accounts and all of the above is expected but just for the one year that you have submitted 
• Limited Company 
• Last two years tax calculations as mentioned above 
• Last two years tax overviews as mentioned above 
• Company account submitted by your accountant confirming the salary and dividends you have paid yourself over the last two years - you should also show your gross profit and net profit should we pursue an option that focuses on your retained profit. 

 

Contractors:

• Signed contract which must include the following 
• Start date 
• End Date 
• Day rate 
• Duties conducted 
• Title 
• Confirmation that you are taxed at source 
• Three months payslips 
• Contractors are paid weekly therefore this could be the last 12 to 14 weeks payslips 
• It is probable that window request more payslips if they require further verification 

 

• Confirmation of which solicitor you wish to use and instruct 
• The solicitor must be on the panel of the lender we are working with. What this means is the solicitor you instruct will also be working on behalf of the lender as well as yourself, their duties is to ensure you as the buyer are protected as a homeowner, as the bank is protected in the form of lending money on a property that is sufficient and within their own criteria parameters. If you do not instruct a solicitor that is on the panel of the lender you'll be forced to instruct a second solicitor who can work on behalf of the lender and this in turn could delay your property purchase quite significantly as both solicitors will have to seek approval from themselves before moving to the next stage.
• Estate agent details selling the property 
• This allows us to directly contact the estate agent if we need to seek further information of the property or alternatively provide this information to the lender at application stage so that the lender can arrange a valuation on the property 
• If you are buying a leasehold property 
• You will need to confirm how many years are remaining on the lease 
• You will need to confirm what the annual service charges are as this will need to be factored into your affordability of purchasing the property and could affect the mortgage amount you are seeking
• You will need to confirm what the annual ground rent is as this will need to be factored into your affordability of purchasing the property and could affect the mortgage amount you are seeking

 

The lender may require additional documents and these will be requested from you the customer only when they are requested from us the advisor