The Housebuying Process
What
these mortgage professionals will do initially is gather information
from you to be able determine your financial situation,capabilities and
ultimately your borrowing power.The documents you are most likely to
need for all the borrowers involved if you partnering up as well are:
- A copy of your credit report
- Photographic ID such a
passport or driving license
- Your last 3 months of
payslips/P60 tax form/or last 3 years of inland revenue accounts by a
certified by a chartered accountant if you self-employed
- A recent bank statement from
your current address with details of all your current direct debit
mandates
You may sometimes be asked for a reference from your current landlord
in how well you have been able to service your rent.If you ever
re-mortgage you may be asked to provide proof of 12 months equivalent
of mortgage payments. When these are satisfactory to the lender you
will received an approved AIP (
Agreement In Principle).This
is NOT an official mortgage offer however - but simply a confirmation
that subject to the lenders conditions you are completely eligible for
a mortgage once your chosen property has been approved as a suitable
security.
