How to be “mortgage ready”

10 May 2017

Whether you are a first time buyer, remortgager, or investor, in the current market making sure you can act quickly is imperative to ensure you don’t miss out when a good mortgage deal becomes available.

 

But how do you know if you are “mortgage ready”?

 

As well as the obvious - ensuring you have a deposit in place and can afford the monthly repayments - having the correct documentation ready can really save time when you need to move on a good deal.

 

Documents you may need to have to hand when applying for a new mortgage could include:

 

  • Proof of employment, for example a pay slip, contract or HMRC Tax Year Overview if self employed
  • Proof of additional income, for example Child Benefits, Working & Child Tax Credits, Private or State Pension
  • Bank Statements, up to 6 months depending on your circumstances
  • For those buying a home, a detailed understanding of your monthly expenditure
  • For investors, evidence your property is, or will be, let out
  • Proof of name and address
  • Evidence of your deposit
  • If remortgaging for home improvements, you may also need evidence of quotes and plans

A Knight Frank Finance consultant can help you understand your personal requirements and make sure you have everything in place for when the perfect deal is announced.
 

Contact us:

T: 02072682580