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.