What do I need to apply for a mortgage?
If you are going to be applying for a mortgage in the not too distant future it's a good idea to get ahead and try to sort out the paper work you are likely to need, especially now that things like bank statements and bills are often online.
Whilst what you will need will depend on your circumstances and the lender in question, this checklist should give you a starting point.
Check Your Credit Report
Get a copy of your credit file from Check My File, which is going to show you your credit history with all 3 main credit agencies used by the lender. To do this, just simply click the below link for your free 30 day trial. If you want to subscribe, it could cost £14.99pm thereafter. *
* NEST Mortgage and Financial Solutions Ltd receive a small referral fee from Check My File.
- The score you get is purely an indicator; different lenders will interpret this differently
- Where possible you need to be registered on the Electoral Roll at your main address
- Your address history needs to be accurate
- Avoid overdrafts and definitely don’t take out payday loans - lenders don’t like them!; the more intact are your finances the more lenders are going to consider you
Ensure your ID and address documents are up to date
If you need to provide proof of ID or address to satisfy money laundering requirements it must be the original document, not a copy, and be current and valid.
- Passport
- Driving License – must have your current address
- Council tax statement - latest one available (dated within the last 12 months)
- Utility Bills – dated within the last 3 months (gas, electricity, water)
- Bank statements – postal statements are acceptable; online PDF version is fine as long as they show your full name, address, full bank details and all the transactions in and out of your account
Make sure you can show where your deposit is coming from
If you are buying a property, lenders will want to see where your deposit is coming from, whether it's from your savings or a gift.
- Savings will need to be evidenced with the bank statements and large lump sum transfers will have to be explained. Online statements can satisfy some lenders here but will need to be in acceptable format as above. Some online facilities don’t allow this so please check yours now.
- Gifted deposits will typically require a letter from the person giving you the money, but the format of this will vary depending on the lender. Giftor will need to be able to sign this when you apply for the mortgage.
- If you are raising the money on another property, it may make sense to start this process earlier to ensure you have the money available when you need it. We can also check and do calculations with you.
Have all your income proof readily available
Income proof will also depend on which lender you decide to proceed with. However, it makes sense to have the following available or easily accessible:
- Latest 3 months payslips (online payslips are usually acceptable if they include your personal details on them)
- Latest 3 months payslips showing your additional income ie. Overtime, Bonus, Commission (the number of payslips will vary dependent of the lenders’ requirements)
- Latest 3 months bank statements (the account that your salary is paid into as well as satisfying the above requirements for bank statements
- Latest P60 (especially if you have bonus income)
- Last 2 or 3 years SA302s and Tax Year Overviews (if you are self-employed).
How much can you afford?
Confirming your spending
Your lender will need to know what you need to spend to keep up a basic standard of living. They can then work out how much of your income you can afford to spend on your mortgage.
They will look at your spending in three categories:
Essential expenses
This is what you regularly spend on the things you cannot do without, such as:
- Food
- Gas, electricity, and other heating costs
- Water bills
- Telephone, broadband and television
- Essential travel (such as travel to work or school)
- Council tax
- Buildings insurance (it is usually a condition of your mortgage that the building must be insured)
- Ground rent and service charges (for leasehold properties)
Basic quality of living costs
This is what you need to spend on occasional essentials, with some allowance for leisure costs, including:
- Clothes
- Household goods (such as furniture and appliances) and repairs
- Personal goods such as toiletries
- Basic leisure costs, including non-essential transport
- Childcare
Repayments and other commitments
This covers other payments you know you will have to make, including:
- Debts you are paying off, like credit card bills, loans or hire purchase payments
- Child maintenance and alimony payments
The exact details you are asked for will vary between lenders, but you should expect to discuss your regular spending in all these areas.
Check your Solicitors are on the lender’s panel
Lenders are extra vigilant these days to target mortgage fraud. Ask your solicitor if they can work with most lenders; make sure they are a reputable firm. By using our legal service, we can guarantee that the solicitor we recommend will be on the lenders panel that you are proceeding with. Please ask us to provide you with the estimated quote.
I wanted to pass on a review to Nest Mortgages. The service Is compeltely outstanding compared to most lenders/ brokers I have used in the past. I met Ania many years ago and recently in the last 3 years used her for my own mortgages. Ania is very professional, approachable and always there to be on hand even at weekends to help with any questions I had. This is one broker you need to use and work with for all your mortgages and advice. We also use her alot for clients at Thacker & Revitt. Nothing is any trouble and she has just managed to secure me a 12 month deal until my full mortgage changes. Its saved me a lot of stress and will always use her and Nest Mortgages. Thank you Nest & Ania again for a fab deal on my mortgage.
Hi, 100% recommended. Ania was very helpful from the beginning to the completion. She explained everything clearly, great service, super person Thank you so much Ania!
Thank you Ania again for your amazing service. You handled my re-mortgage previously and I had no doubts with returning to you for our house move this year. You filled us with confidence from the first step, even offering your advise on properties we were considering, before we had made a final decision. You shared in our excitement when we had our offer accepted and were with us through the entire process of the purchase. We had complete confidence in you finding the best deal for our mortgage and I would happily recommend your services to any of my family and friends looking to move in the future. Thank you for everything.
As a first time buyer Ania took me through each stage of the process in a kind and reassuring manner, taking the time to give me a full understanding of each stage of the mortgage process. Ania provides a true 5 star service at each stage of the process, her knowledge and professionalism are second to none. I would wholeheartedly recommend Ania & Nest to everyone I know if they were looking at taking out a mortgage. Thanks again Ania.
I thought that buying my first property and applying for a mortage will be difficult, but not with Anna Cooper! I could not imagine more knowledgeable and professional mortgage advisor. She made sure I understood all steps of mortgage application, advised me on all possible options, answered all my questions. I was informed about every stage of my application. I would definitely recommend Anna's services and I can't wait to remortgage and work with Anna again.
Firstly, I would like to start this with a massive thank you to Ania Cooper. Getting a mortgage and moving home can be one of the most challenging experiences, Ania made it a comfortable and pleasant experience. From the start of the process to the end her communication was exceptional and was always fast in her responses. Ania was professional, had a great knowledge and she is committed to offering a great service. My partner and I will not hesitate in recommending Ania going forward and in the future will be using her when we need again. Thank you again Ania!
Absolutely recommended. Ania was helping us from the very beginning to the completion. It's nice to feel that there is someone you can fully rely on in this long and difficult process. As a busy mother, I appreciated the fact that Ania took up all the things and advised me at every stage. Thank you so much Ania!
Hi Guys just wanted to say a huge Thank you for getting our clients to exchange today after all that has happened in this tough time and also with the clients. Thank you for providing a really great and speedy service. Highly recommend you to all of our clients. Thacker & Revitt are really pleased you are on board with us independently. Lots more referrals to come your way.
First of all, it was a pleasure have a business with Anna. I was First time buyer and obviously no knowledge how it workes. Anna was my angel in the dark, honestly. She was so professional and helpful. She guided me through all procedures, explaining the low, find the perfect deal with a mortgage, advice and many many more. I am so happy now with my new flat and thank you Anna for everything you done for me.
I simply must recommend Ania Cooper to anybody who is looking for excellent mortgage broker services. Ania has arranged for our personal residence mortgage when our offer on the house was first accepted. Because of Ania's systematic approach, an eye for detail and long-term strategic thinking everything went smoothly. It was amazing to see her literally throwing herself into the process with an absolute 100% commitment. I guess that would be really easy to do for someone who has such depth of knowledge of the mortgage and protection markets and such great insight. Ania is inspirational, down to earth, engaging, professional and yet personal. As we have come to learn very quickly, to have Ania in our team meant for us to have things done to a very high standard and in a timely manner. With her high work ethics showing all the way through, Ania guided us through a complicated process of acquiring a mortgage right to the completion. What was impossible or hard to achieve for other mortgage brokers that we spoke with, became a reality for us when Ania entered our house purchasing process. There are really no appropriate words to thank her enough for her hard work and commitment to our success. THANK YOU, ANIA!
Profesjonalne podejście do klienta, najpierw dokładna analiza naszych oczekiwań by później indywidualnie dobrać usługę i ofertę pod nasze potrzeby. Bardzo dokładnie i prostym językiem wytłumaczone warunki umowy, dzięki szybkiej reakcji i działaniu Ani dostaliśmy bardzo dobrą ofertę która była dostępna na rynku, Ania zmobilizowała nas do szybkiego kompletowania dokumentów i dzięki niej mając wszystko pod kontrolą ta oferta była dla nas dostępna. Z czystym sumieniem polecam Anię bo jest najlepsza w swoim fachu. Jej profesjonalizm i podejście do klienta jest widoczne już na pierwszym spotkaniu.
We have to say a huge thank you to Ania. Ania was able to find us the right mortgage for us under unique circumstances to get us our dream home. Nothing was too small to ask for her assistance on and I put it down to her efforts on us securing our property. Professionally Ania is dedicated and extremely motivated to succeed for her clients but is also extremely approachable on a personal level. I will be keeping in contact with Ania with future business without a doubt.
I had that pleasure of dealing with Ania twice so far and can honestly say, that will confidently do it again. Ania is not only friendly, helpful and honest person, but most importantly she is very knowledgeable, experienced and always happy to advice and direct. Full professionalism and individual approach to her customers. Thank you Ania!
I highly recommend Anna's services. She is the right person in the right place. Anna is very helpful, kind and patient. She explained everything to us very precisely and helped us make the right decision. She makes buying a house much less stressful experience.
Our mortgage was not straight forward, however, Ania’s knowledge of the subject has helped us to secure our first mortgage without any problems. She was very helpful, knowledgeable, friendly, prompt and always above and beyond. Her customer service skills and clear vision of the process were remarkable. We will be definitely returning to Ania when we are due for a re-mortgage, as Ania is certainly a professional in the right place.
Absolutely first class service from Anna Highly recommended and I would never consider using anyone else. Brilliant!
Ania was very helpful from the start to the end. Nothing seemed to be a problem. My partner and I are the first time buyers and it was important to find someone who will guide us all the way through. We've had a few meetings with different mortgage advisors and nobody explained to us everything as good as Ania did. That's why we decided to go ahead with Ania. I highly recommend Ania's service to everyone who is looking to buy a home or remortgage.
I would like to highly recommend Ania's services. It is a reliable company and of course a passionate person who will advise and answer every question. We couldn't get any better advice. We have easily passed a large number of domains thanks to the support of Ania. We highly recommend her.
Anna is very informative, helpful and reassuring. As a first time buyers we had no idea about the whole process. She helped us not only to find the best mortgage deal but also gave us advise about estate agents. She saved our time and money. Thank you. We would definitely recommend her service.
Professional advice, very friendly service, very quick information exchange, answer to every task. Definitely coming back for remortgage.
Ania was extremely helpful and knowledgeable. Ania’s professional advice and support has been of the highest standard. I am very happy that I followed her recommendation to remortgage my property instead of staying with my current lender as it saved me a lot of money. I honestly can recommend Ania to anybody who needs great mortgage advisor.
Mortgage advisor you can trust. Ania took care of all the formalities related to our remortgage to the smallest detail. Professionalism in a pleasant atmosphere. I highly recommend her service.
Disclaimer
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
NEST Mortgage and Financial Solutions Ltd fees are payable on application. Our typical broker fee is £495, however this may be subject to a change, dependent on your status and circumstances.