This might include:utility bills.proof of benefits received.P60 form from your employer.your last three months' payslips.passport or driving license (to prove your identity)bank statements of your current account for the last three to six month.
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At the same time, do banks look at your statements when applying for a mortgage?
What do mortgage lenders look for on bank statements? When you apply for a mortgage, lenders look at your bank statements to verify that you can afford the down payment, closing costs, and future loan payments. You're much more likely to get approved if your bank statements are clear of anything questionable.
On top, why would a mortgage application be declined? These are some of the common reasons for being refused a mortgage: You've missed or made late payments recently. You've had a default or a CCJ in the past six years. You've made too many credit applications in a short space of time in the past six months, resulting in multiple hard searches being recorded on your ...
Besides this, is it better to get a mortgage from a bank or lender?
Unlike brokers, banks don't have to disclose what they make on your loan. You may pay more than you need to if you don't shop aggressively. Mortgage banks tend to offer fewer products. If they don't sell the loan that's best for you, they may not tell you about it (or even know about it).
How far back do mortgage companies look at bank statements?
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The lender needs to verify that the funds required for the home purchase have been accumulated in a bank account and accessible to the lender. ... A mortgage company or lender uses a proof of deposit to determine if the borrower has saved enough money for the down payment on the home they're looking to purchase.
As mentioned, the underwriter is assessing the risk of your application, they want to know the chances of you not paying back the loan. They also want to check the validity of any documents you submit, and make sure that you meet all the lender's and regulatory requirements for the loan.7 days ago
You can certainly be denied for a mortgage loan after being pre-approved for it. ... The pre-approval process goes deeper. This is when the lender actually pulls your credit score, verifies your income, etc. But neither of these things guarantees you will get the loan.
around 18-40 days
After you submit your application, your lender does a credit check on you, and also does what's called an 'affordability assessment', to make sure you can actually afford the mortgage you've applied for. ... If everything goes well, you'll get a formal notice called a mortgage offer.