You might be thinking about starting the process of applying for a mortgage. There are many lenders out there from the Major established banks, a few remaining building societies and the growing challenger banks then the specific mortgage lenders. Since 2015 there has been a major shake up in the Mortgage industry in relation to what a mortgage lender will need from you. Here is a quick overview of what you will need when you apply.
First of all the Mortgage Advisor will ask you if you are going to buy a freehold or leasehold property. Freeholds generally offer no issues but some lenders like to know there is a decent amount of time on the lease before they will entertain lending on it. This usually applies to flats and apartments. The second thing they will want to know is whether you have a deposit. Most lenders will only consider you if you have at least ten percent of the property that you are looking to buy.
Finally it is a good idea to have any payslips with you as they will want to know what your per annum income is. If you are self-employed you should ask the HMRC for your last 3 years SA302’s which will tell you exactly what you have earned. Make sure that you have a good grasp on all the outcomes that you have like credit cards and loans etc. If you pay for the membership of something and you’re not prepared to drop it in times of financial difficulty then that will need to be included as well. Once you have all that it’s just a case of getting some Building Survey Birmingham way based company the one in the link to do the next part for you.