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What documents do I need for a mortgage application? What documents do I need for a mortgage application?

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What documents do I need for a mortgage application?

Published 25th January 2022Read Time 6 min

After years of saving, your time to take the first step on the property ladder has finally arrived. Getting your mortgage application can be more paperwork than you might expect.

Mortgage providers will assess your application on your income, employment, living costs, spending habits, credit history and any existing loans you might have. All this information helps them to decide if you can repay your mortgage. Make sure you have all the documents you need for your mortgage application with our ultimate checklist:

Best practice for mortgage documentation

  • Keep copies of any documents you give to your mortgage providers.
  • If you are making a joint mortgage application, you will need to provide all the relevant paperwork for both individuals involved.
  • You may have to submit up to 12 months of bank statements, start gathering or ordering any bank statements you need in advance.

Mortgage application documents checklist

Bank Statements

The number of bank statements required can vary from each loan provider. But as a rule of thumb, you will need:

  • 6 months of current account statements
  • 6 to 12 months of statements for any saving accounts
  • 6 months of statements for any investments
  • 2 months of recent credit card statements

Application Form

  • The application form from your chosen provider will need to be fully completed and signed. Make sure to review your application form when you complete it that all the information is correct.

Proof of address:

  • You can provide this in the form of a utility bill, or bank statement. Remember if you are applying with your partner or spouse, you will both need to supply proof of address. 

Identification

  • Your passport or drivers’ licence is normally accepted
  • You will also have to provide proof of your PPS number; this is listed on your payslips and any letters you’ve received from The Revenue Commissioner.

What documents do you need if you are a PAYE employee?

  • 2- 3 months of recent payslips
  • Employment Detail Summary from your Revenue PAYE account
  • An employee status report will need to be completed and stamped by your employers

What mortgage documentation do you need if you are self-employed?

  • The last two years’ of your audited/certified accounts
  • Confirmation from your accountant that your personal business tax affairs are in order
  • 6 months of your businesses bank statements (This process varies based on provider)
  • Depending on your circumstances or mortgage provider other documents may be required

Mortgage documentation required for your deposit

  • Proof of deposit, you can use your savings statements for this
  • If you have received a gift from a family member, you are required to include a gift letter. This will confirm your relationship, the amount gifted and clarify that they have no claim over your home

Mortgage documents you will require for a self-build:

If you are applying for a self-build mortgage, there are a few extra documents you need to provide.

  • Proof of your site to build on
  • Final grant of your planning permission
  • A Site map
  • Initial valuation
  • Initial plans from your Architect/Engineer/Surveyor
  • Professional indemnity insurance

What mortgage documentation do I need if I am a second-time buyer?

If you are a second-time buyer, the process for a mortgage application is the same as a first-time buyer. You will still be assessed on your income and the ability to repay any loans. You will be required to include a few extra documentations this includes:

  • Statements for your most recent mortgage, this can vary from loan providers 
  • Recent Statements for any loans you might have
  • If you have any rental properties, you will also have to submit a copy of any tenancy agreements you have

Buying your first home is a milestone achievement in life, protect yourself and your new home with AA home insurance. Get a quote with us online today and you can receive 40% No Claims Discount & €60 Off Online*

Continue reading our guides for first-time buyers and homeowners

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