Items needed to Apply for a MortgageElements required to apply for a mortgage
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Mortgage, Savings & Financial Programming Cambridge Building Society
In The Cambridge, we strive to make your mortgage trip as clear as possible, even if it's sometimes a little annoying. We must obtain information from you during your first visit to make sure that the mortgage you want or any changes you wish to make (if your mortgage is already with us) is within your reach.
As a rule, the meeting lasts about 90 min and enables us to fully comprehend your financing needs. When your mortgage is already with us and you want to move to a new business with no further changes, we don't need any information or documents before your date - which usually lasts about 30 mins.
If you apply for a mortgage with us, you must provide proof of who you are and where you reside. *Remember that you cannot use the same element to check both your name and address: two distinct elements are used. When we cannot validate your ID, we will not be able to process your request.
What can I get? That means that it is important to us that we do not loan you more than you can finance. Taking into account your specific situation, we evaluate your capacity to make periodic repayments and pay back your mortgage. We will then be able to tell you how much you can rent.
For more information on who can apply for a mortgage, how much you can lend and how to apply for your mortgage, please read our mortgage application guidelines.
Do you need any documentation to apply for a mortgage?
Submitting everything and anything that has to do with your financial situation when you apply for a mortgage can be enticing, but it is not necessary. Keep fire before you begin looking through old records and excavating account statements dating back to 2003! Creditors need a reasonable amount of information before they agree to give you a mortgage, but you can spare yourself a lot of trouble by just posting the documentation they need to see.
We have compiled a full listing of all the things you need to apply for a mortgage in support. If you are looking for a mortgage or you are looking for remortgage, there are a few document creditors will always want to see. We as well as the creditor have to see declarations showing your incomes and expenses.
It will enable us to correctly evaluate your situation and ensure that we are recommending the right mortgage for you. Now that most of today's financial institutions provide on-line financial services, the simplest way to submit your statement is to sign in to your on-line financial institution and directly access and retrieve your statement on your computer.
There is no need to do this and the instructions are stored in PDF file form by default. Meanwhile, many individuals get their pay slips on-line, which makes it easier to obtain them as PDF files. In case you get pay slips made of hard copy, you have to check them and submit them as PDF. Scanning more than one payroll on one page, not one page at a time.
Municipal taxes, pension invoices and account cards are all acceptable types of addressing. A few creditors will also ask for 3 month corporate account extracts. Evidence of escrow - either a savings book or a savings account card. Alternatively, if the payment is a present, we will send you a "beneficiary payment confirmation" application that you can fill in along with the three months' account history of the depositor.
When you already have a mortgage: You need a recent mortgage extract. Note that there are some other additional documentation that you may be asked for: Are you accepting photographs of a document? It is recommended that you have your document scanned to maintain high picture clarity and prevent undue delay in your use.
We can, however, admit photographs as long as they comply with the following standards: In what form should a document be available? Is it possible to save all my document in one PDF document? Compiling all the documentation in one PDF will slow down the recruitment procedure - your consultant will have to waste your valuable resources browsing pages to find out what he is looking for.
Scanning each individual piece of paper and keeping it in a PDF with a unique identifier allows us to quickly and easily handle your job for you. When all your files are on seperate files, this should not be a hassle. Ensure that your scanning or photo meets the above mentioned standard! Failure to comply with these requirements will result in a request for new copy, which will delay your submission.
Submit your document as a seperate file instead of sending it as a long file extension. As a result, our consultants don't have to spend a lot of valuable resources searching through document pages and can speed up your applications. Rename your document. Before you print and scan, make sure you know which PDFs (.account statement, etc.) you can print to reduce workload.
Nearly all major financial institutions now provide account statement downloads.