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The Documents you Need to Get a Mortgage

Sep 03, 2024
The documents you need to get a mortgage
Applying for a mortgage can feel overwhelming due to the paperwork, but it doesn’t have to be stressful. To help you out, we’ve put together a list of essential documents you’ll need when buying a property. We’ve also included tips on collecting the relevant documents and answered common questions about mortgage application paperwork.

What documents are needed?

 

When applying for a mortgage, lenders may request specific documents to check your eligibility for a large, long-term loan. These tell the lender exactly how much you earn, how much you currently spend, and your risk level as a borrower. 

 

The documents you must provide include:

 

• Photo ID, such as a passport or driving licence

• Proof of address, such as utility bills or council tax bills

• A P60 form from your employer

• Payslips from the last three months

• An SA302 form or accountant’s certificate if you’re self-employed 

• Bank statements from the last three to six months

• A signed letter from the donor if you’re being gifted funds

• Proof of benefits

 

You may need to provide further documents to prove your outgoings, income and other financial information, but this depends on the lender. They will outline their requirements early in the application process.

 

Learn more about essential house purchase documents in our comprehensive guide.

 

Why are so many documents needed?

Banks must be careful about who is borrowing from them when lending large sums of money. Lenders will examine your income, expenses like bills, insurance and childcare costs, and other financial details. Because mortgages often span 25 years or more, banks must also account for factors like fluctuating interest rates, employment changes and retirement.

 

Tips for getting your documents in order for your mortgage application

To ensure that the mortgage application process runs smoothly, here’s our advice for collating the required documents.

 

Be honest and accurate

Be completely honest when preparing your application. If you fail to mention any credit cards or personal loans, it will slow down the process while the mortgage lender sifts through your credit history.

 

Make sure all copies are certified

A simple print-out of documents won’t usually stand up to scrutiny when applying for a mortgage. To ensure your mortgage lender accepts your documents, try to get the originals certified (signed and dated) by a professional, such as your solicitor, accountant or doctor.

 

Collect all required documents

Make sure you have all the necessary documents, including:

 

• Latest payslip (online in original file format but not a screenshot)

• Self-employed people must provide the last two years’ worth of HMRC tax calculations (printed from your online account)

• Declaration of any additional income, such as child benefit, child maintenance, working & child tax credits, and disability living allowance (physical copies)

• Up to 6 months’ worth of bank statements (paper or online)

• Evidence of deposit (paper version)

 

Provide full contact details

Provide multiple email addresses and phone numbers so the bank can easily contact you, your solicitor and your estate agent at any point during the application process. 

 

Provide as much information as possible

If in doubt, it’s better to provide too much information rather than too little. Ask the lender questions, especially if you’re unsure about what documents are needed.

 

 

Ready to buy your new home? Discover our range of energy-efficient properties across the UK, including 4 bedroom and 5 bedroom homes. We also have unique offers to help you move, from Part Exchange and Movemaker to Parent Power and Deposit Boost.  

 

Call our Sales Advisers today to get started.  

 

FAQs

Still unsure about what you need to get a mortgage? Check out the answers to these frequently asked questions.

  • When applying for a mortgage, you’ll typically need payslips from the last three months to verify your income. However, some lenders may only require the most recent month’s payslip.

     

    If you’ve recently changed jobs, some lenders will accept your employment contract as proof of income, provided it’s a permanent contract. Alternatively, if you’re planning to switch jobs within the next three months, some banks and building societies will consider a copy of your agreed contract (which should include your salary and start date).

  • Many factors can prevent someone from getting their mortgage application accepted, including:

     

    • Poor credit score

    • Excessive credit applications

    • No credit history

    • Credit report mistakes

    • Low salary

    • Inability to prove income

    • Frequent job changes

    • Unpaid debts

    • Payday loans

    • Not being on the electoral register

    • Small deposit size

    • Less than three years of UK residency

     

    Sometimes, factors beyond your control can hinder your ability to secure a mortgage. 

     

    For instance, if the lender identifies issues with the property, your application may be declined by the underwriter after valuation. These issues could include:

     

    • The property being in a high-risk location (such as a floodplain)

    • The surveyor valuing the property lower than your accepted offer

    • The property not being constructed with traditional bricks and mortar

  • Mortgage lenders usually look at your main current account to check your spending habits. They’ll also consider all bank accounts that contain funds you’ll use for your deposit, like savings accounts. It’s a key step in the mortgage application process as it allows lenders to check your financial situation and ensure that you’re reliable and will be able to afford monthly mortgage payments. 

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