Whether you’re buying your first property or moving house, there’s a mountain of paperwork you’ll need to work through and dig out of your dusty filing cabinets or maxed-out mailbox.
This document checklist details everything you might need before you find your perfect property and put in that offer.
Applying for a mortgage
Both first-time mortgage applications and remortgages will require identity and affordability checks. You’ll need to prove you are who you say you are and that you can afford to repay a mortgage debt.
Have the following to hand before applying for a mortgage and if you need extra support, consider talking to a mortgage advisor:
– Recent utility bill at current address
– Proof of benefits received
– Most recent P60 and your last three months’ payslips OR SA302 tax return form and at least two years’ certified accounts if self-employed
– Bank statements for three to six months to show income and outgoings
– Balance statements for credit cards, store cards, finance agreements etc
Preparing to sell
If this isn’t your first step onto the property ladder and you’ve got a property to sell before you can buy, you’ll need all documentation proving you own the property and that it is fit for sale.
This will often be required by estate agents before they can market your property and solicitors before they can complete any sale on your behalf. They may also assist you in finding or completing the documentation too.
– Title deeds or ‘Title Absolute’ if not available – check with the solicitor who handled the last purchase or obtain from the Land Registry for a small fee
– Freehold documentation or copy of the Lease – depending on whether you own the land the property is built on
– Management or leasehold information pack – if ground rent and management fees are paid, to show what is included
– Certifications, warranties and approvals – for any work that has been carried out such as new boiler installation, new double glazing or Building Regulation sign-off for permitted extensions and planning approvals
– Energy Performance Certificate – required by law since 2008 and valid for 10 years so if your home is more energy efficient now then it was, you may want to pay for a new one
– Transaction (TA) forms – providing essential property information to potential buyers, from boundary information and neighbour dispute details to existing development notices and building insurance details
Preparing to buy
As long as you have proved you are who you say you are, live where you say you live and earn what you say you earn, there is just one more thing to obtain before you can start house-hunting…
– Mortgage offer and proof of deposit – this could be an offer in principle and bank statement to show you have the funds to purchase a property
Of course, more paperwork will be needed once you find a property you like and the sale process gets rolling, but it’s not something you can prepare in advance. By packaging all your other paperwork together beforehand, you’ll find your property purchase journey a much smoother – and sometimes faster – one.
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