- Passport (in date)
- Drivers licence (with your correct address on)
- Council Tax bill (dated within 12 months)
- Utility bills (dated within 3 months)
- Bank statements posted to you (dated within 3 months)
- Credit card or loan agreements posted to you (dated within 3 months)
- Your last three months’ payslips from your employer (employed)
- Bonus/commission/overtime payslips (employed with varying income)
- Your latest P60 tax form, showing income and tax paid for the year. (employed)
- Your last three years’ tax calculations and tax year overviews (if you are a self-employed sole trader)
- Your last three years company accounts completed by a qualified accountant (self-employed directors of limited companies)
When buying a Buy to Let a minimum of 25% deposit is needed to proceed.
The lender will need to see a paper trail to ensure you have your deposit from an acceptable source. A few common examples are:
- 3 months savings bank statements
- 3 months LISA/ HTB ISA statements
- Gift letter if a family member or friend is gifting your funds.
- Local Authority Searches
- Environmental searches
- Water and draining
- Coal mining
- Land Charges
- Chancel repair liability
Enquiries may involve asking if the property has ever suffered from flooding, subsidence, structural defects. Rights of way, restrictions and house maintenance related enquiries.
⁃ Valuation fee (this can be free or around £200)
⁃ Arrangement fee (normally £999)
⁃ Booking fee (normally £100)
- Mortgage Broker fee (This will normally be £300-£500)
The above costs can all vary depending on the lender and broker you choose; lenders may charge no fees to make their product more competitive.
Willow Brook Mortgages never charge a fee for our advice.