This list will help you to submit your decision and application to make it as smooth as possible. Remember our expert teams are available should you need their support or seek clarification on the documents we request for your client.
New Business Hints & Tips
- For applicant’s on maternity leave, please provide the 3 latest payslips & in addition to this the payslip prior to the maternity leave.
- Confirmation of a return to work date, whether the applicant is returning on a full/part time basis and any anticipated childcare costs must be declared on the application form.
- For employed applicant’s where the basic income fluctuates and is not indicative of a pay rise, please use the average over the last 3 months providing the year to date figure supports this monthly average.
- Overtime must show on all payslips if required for affordability. This will be used at 50%.
- Bonus if required for affordability must show on the payslip. This will be used at 50%.
- If using a future pay rise (within 3 months) a letter from the employer confirming the new salary that is due within the next 3 months will be required.
- Ensure deductions are factored into affordability i.e. Childcare costs, Student loans, attachment to earnings.
- If the applicant’s payslips show a different company name, please provide clarity on the link.
- Ensure all acceptable income is declared, in line with the income evidence provided.
- Employment contracts that are dated within the last 12 months are an acceptable form of income evidence if payslips are not available.
- Applicant’s paid in cash will not be accepted.
- Handwritten payslips will not be accepted.
- If the applicant’s latest payslip shows large amounts of sick pay and indicates that they are not currently working, clarification will be required around their plan to return to work.
- For self-employed applicant’s, the last 2 years SA302’s & Tax Year Overviews figures must match.
- We require a full month's bank statement (between 28-31 days) and dated within the last 2 months.
- Must evidence salary credit/self employed credits.
- Salary credit is in line with the payslip and salary credit narrative matches the declared employer.
- If any other form of income is being used for affordability i.e. child tax credit, this must show on the bank statement.
- Must show general day to day expenditure.
- If statements are more than 1 page please ensure there are consecutive dates, page numbers and that balances/transactions flow correctly from 1 page to another.
- Must show running balance.
- Any regular standing orders/commitments to be clarified & factored in.
- Declare all additional payments to be factored in for affordability i.e. maintenance, child care costs, ground rent.
- Clarify any large or unusual transactions on the bank statements. For example: regular/unexplained cash deposits, regular/large gambling transactions, pay day loans. Payments received from third parties.
- The address on the bank statements should match the applicant's declared current address. If it doesn’t, clarify the reason.
- If a bank statement cannot be provided we cannot use this income in the application.
Source of deposit
- Ensure the correct source is declared.
- If part of the deposit is a gift, please ensure the Confirmation of Gifted Deposit form is submitted. If there are multiple gifts from different family members, a gift form from each is required.
- If the source is savings and the statement provided shows large lump sums, please provide clarity.
- If the source is from a property sale within the last 6 months provide details of the sale price and equity.
- When all or part of the deposit is from inheritance, bank statements showing the inheritance being received from the solicitor is acceptable. If this is not available a solicitor’s letter or probate is acceptable providing it details the amount the applicant is to receive.
- We do not accept a ‘builder gifted deposit’. If one exists, the valuer when inspecting the property has to factor the incentives into the valuation and we will lend based on the lower purchase price, and the customer would have to find a 5% deposit based on this lower figure from their own funds.
- For any new build, incentives are acceptable up to 5% (HTB or standard new build), but excluding builders gifted deposit including rental guarantees.
- Armed forces Help to Buy (HTB) scheme require the HTB approval document prior to offer and full details of the repayments must be declared as part of the application.
- HTB require the HCA/ATP document prior to offer (details must match what has been declared on the application form, if anything has changed we will require an updated HCA/ATP document). The applicant must also provide a minimum 5% deposit from another acceptable source.
- If the deposit is coming from a TOE, clarify the equity split.
- We cannot accept photographs of ID.
- Must be addressed to the current address.
- If ID has been requested and acceptable proof cannot be provided we will be unable to proceed with the application.
- Unfortunately we don't accept electronic signatures.
- Must be signed & dated by both applicants.
- Ensure the applicant’s full legal name is declared (including middle & previous names) as this can affect the credit score.
- Ensure the applicant’s correct date of birth is keyed.
- Dependants must be declared on the application form.
- If capital raising to purchase an investment property, full details of the property are required.
- If the applicant owns any mortgage free properties, clarification may be required regarding how they have acquired the properties.
- Photographs of supporting documentation are acceptable for all except ID.
- Don’t type in capital letters - if you do, the details will need to be changed which will mean resubmitting the information.
- Ensure the address history is accurate - we’ll search addresses for the last 3 years and if they don’t match your information, the decision could be affected.
- Check the applicant’s full name is correct, including any middle or maiden names.
- Make sure any overtime/bonus or other types of income are separate from basic income. Any changes may affect affordability. Let us know an employer’s e-mail address to speed up a reference request if required.
- If available provide two telephone numbers at the initial application stage, this will assist in booking a valuation if required.
- If the employer’s head office address is different from the applicant’s place of work, please add a note in the additional information box as we will query this if the commute appears too long.
- Ensure that information relating to the deposit is correct e.g. if it was a gift or savings.
- Ensure that any Solicitor chosen by your client is on our panel as if not this will cause delays to the offer.
- Please complete your clients bank details in full on the application form.
Document list top tips
- Check the list and upload all the requested documents.
- Bank statements should show salary credits and be for a full calendar month, you may need to send separate statements if using a ‘bills’ account. We also accept electronic bank statements.
- Use the standalone version of the Customer Declaration Form for your client to read and sign. You'll find this in the Literature section. This should be uploaded at the same time as the application.
- Ensure all documents are clear and legible.
- For the fastest and most secure way to get your documents to Platform, please use the “Upload a Document” option on the Documents tab in Click. Documents uploaded in Click are automatically verified and are actioned more quickly.
- Review the “Check and Send” tab on Click to ensure all required documents have been uploaded to progress your clients application. You can upload all documents at this point from the list supplied otherwise we will send a document request as a reminder.
- Check all signatures on any identification documents provided match those on the declaration. If they do not then we will request another declaration to be signed in the presence of a witness.
- Photographs of documents are acceptable. Photographs must be clear, legible and the whole document needs to be visible.
Retention Hints & Tips
- Your client’s personal data must be correct at the time of application as this will lead to delays in the offer.
- The details required to complete the application form are on your client’s invitation letter including the mortgage account number, this can also be found on your clients DDM reference.
- Ensure that the term is correct as this may indicate that a change is required and delay the offer.
- Correctly complete your correspondence address as this is where the customers copy is sent.
- Only use the postal form if there is an increase in payment of more than £5.
- For online submission please print each page for your compliance records.
- Please allow 5 days for receipt of application before calling our retention line to make an enquiry, we will need their mortgage account number, full name and post code. (0345 070 1999 Option 5).
- Ensure that you client signs and returns the offers FOA to reach us at least 10 working days prior to the maturity date. We don’t send reminders and the switch will not take place if not received.
- We send a regulatory reminder to our customers about the maturity date 30 days before it is due whether a product transfer has been requested or not.
- Your client can only make an early repayment if the FOA is returned and no sooner than 30 days prior to the maturity date.
- We will not backdate the mortgage account if the signed FOA is received after the maturity date.
Our Mortgage Desk team are here to help with any pre application enquiries to ensure that your application is placed with us successfully. Please call them on 0345 070 1999 Option 1.