Getting an offer for your client quickly is important to everyone, so we’ve got a guide to help achieve this.
Additional requirements for Shared Ownership/Right To Buy/Buy to Let/Remortgage including home improvements/Remortgage including debt consolidation.
Our guide can help you and your client to secure an offer quickly and efficiently.
Documents
Solicitor
- Check your clients Solicitor is on our panel:
Solicitors not on the panel can apply via LMS to join.
Commitments
- Declare all financial commitments including e.g. student loans, childcare costs including childcare vouchers, Missing this information may result in your application not meeting affordability criteria when they are added at our end.
Identity will be certified using an Electronic Identity search (EID) where possible. Proof of Identification/address may be required in some instances and one document from List A and one from List B below should be provided as evidence. If you are unable to provide any of the documents listed, please contact the underwriting team/packaging team.
Current Signed Passport
Utility bill or certificate from a supplier of utilities or pre pay terms issued within the last 3 months.
Resident Permit issued by Home Office
Local Authority tax bill valid for current year.
Current Full or Provisional UK photo card driving licence (showing correct address)
Current Full or Provisional UK photo card driving licence (showing correct address)
Letter from the Department of Work and Pensions.
Employed
Latest 3 months payslips or equivalent if paid weekly and most recent P60. An employment reference will be requested where there is any doubt.
Online payslips are acceptable. If payslips are not online, they must be certified as being true copies of the originals. Must show the applicants name and, where an address is displayed, this must match the application.
Employed – Using Bonus
In addition to the above: Payslip showing receipt of the bonus payment.
Fixed Term Contract
Latest 3 months payslips or equivalent if paid weekly; and Current and previous contract.
As above
Zero Hours Contract
Latest 6 months pay slips or equivalent if paid weekly; and Contract of employment.
As above
Bank Hours (applies to NHS professionals only e.g. doctors and nurses)
Latest 6 months pay slips or equivalent if paid weekly; and Contract of employment.
As above
Self-Employed
Latest 2 years audited/certified accounts: and Latest 2 years tax calculations and tax overviews; and Accountants reference (this will be requested by the Society); and The latest 3 months business bank statements
The full set of accounts is required. Abridged versions from Companies House website are not acceptable. Tax Calculations (SA302’s) should show: Logo – GOV.UK Name and tax year UTR (unique tax reference) Progress – 100% (online only) Tax overview information should match the tax calculation (SA302) HMRC can provide the above regardless of how the tax return is submitted.
Company Directors <25% shareholding
See employed.
Company Directors with >25% shareholding
See self-employed.
Second Job
As per employed/self-employed/company directors.
Retirement Income - State Pension
A letter from DWP confirming the pension amount.
Retirement Income - Private/ Occupational Pension
A recent statement/letter from the pension provider confirming the annual pension.
Retirement Income – pension drawdowns
A recent statement from the pension provider confirming the value of the fund.
Benefit Income
A letter from the relevant department/benefit provider confirming the level of benefit income.
BTL Rental Income
Latest 2 years tax calculations (SA302’s) and accompanying tax overviews. AST for each property. Latest 3 months bank statements to show rental income.
Investment Income
Latest 2 years tax calculations (SA302’s) and accompanying tax overviews. Most recent statement from the investment provider confirming the total fund value.
Maintenance Income
A certified copy of the Court Order. Latest 3 months bank statements showing maintenance payments.
Maternity/ Paternity Income
See employed. In addition we will write to the employer for a reference to confirm return date and salary.
All
Latest 3 months bank statements showing salary credits/income and household expenditure (if applicable). If the applicant has multiple current accounts, the underwriter may request statements for these accounts in addition to the above.
Online statements are acceptable and must show/contain: Applicants name and address Logo of the Bank/Building Society Sort code and account number A running balance All pages are required with no gaps in dates For BTL applications – the latest 3 months rental income
Self-employed
In addition to the above, the latest 3 months business bank statements should be submitted
All purchase applications using savings as a deposit
Latest 6 monthly bank/savings statements. If these are across multiple providers, all statements are required
They must show the deposit funds accumulating and the trail of movement if applicable.
Self-build
Planning Permission, Costings, Submission Form, Plans
Must have at least 12 months remaining unless the project has already commenced. Fully completed and available from our website – intermediaries/downloads. Fully completed and available from our website – intermediaries/downloads. Detailed plans/drawings of the project.
Right to Buy
Right To Buy Notice from the landlord
The letter confirming “Right to Buy” from the landlord detailing the Purchase price and discount.
Shared Ownership
Memorandum of Sale from the Housing Association. If the MOS is not available at the time of application you can upload a Word document in its place detailing the following information: Name of the Housing Association, Property address, Full market value, Purchase price, Percentage share, Rent percentage, Deposit, Mortgage term, Defect period, Description of property.
If the memorandum of sale document is uploaded after the initial underwriting assessment has taken place we may need to reassess the application if the details differ from the original application details you provide and we will need the latest pay slip and bank statement from your client.
Purchase or remortgage where the applicant has background BTL properties
The current AST. Evidence of rental income via 3 months bank statements
The AST must show the name of the borrower, tenant, monthly rent payable, dates.
Remortgage with additional borrowing for Home Improvements
Estimates for the proposed work
Remortgage with additional borrowing for Debt Consolidation
Statements/settlement figures from the creditor/s for all commitments being repaid
