The Document You Need to Provide When Apply Mortgage


Documents Required to Loan in the UK is Valid Passport Bank Statement for the Last Three Months (Please note that you do not accept Internet Banking Statement) Latest 3 Months Payroll & Latest Duty Certificate (P60). If you are an individual, you need the most recent three years of financial reporting and the most recent UK HMRC tax calculation form (SA302, Applicant for own tax returns) Certificate of Deposit (indicating that the applicant has sufficient funds to pay for the down payment of the property) Preliminary Assessment Domestic Buyer Offering Personal proof of assets, proof of income, proof of identity, and remitting the information directly to the Bank of China branch in the United Kingdom (UK branch address, see information below). After receiving the information, the UK branch will make a preliminary assessment to determine the buyer’s loan quota. Time required: From the bank to receive the buyer’s certification documents, the initial assessment process about a week to complete the buyers showings, house inspection If the bank gives the initial assessment of the results of your actual needs, then the buyer can enter the actual housing Buy a house link. It should be noted that in the United Kingdom to buy a house before signing a house purchase contract, there is a third-party inspection part of the room (in the UK to buy a house, this section can not be omitted). Housing inspection report not only describes the quality of housing and other related information, but also give the corresponding valuation, which will determine the amount of the final bank loans. Time required: Due to the inspection by third-party agencies, banks can not control. Usually, it takes about a month or so. Housing inspection fees are usually paid by the buyer. 4 loan approval, loan access to the inspection report, the bank will be based on the report’s valuation, combined with the buyer’s financial position, give the buyer the final loan limit, and the British home loan interest rates and the buyer signed a mortgage contract. Duration: Approximately 1-2 weeks Remarks: At this stage, the buyer needs to open an account with the Bank of China branch in the UK.
In addition, there are some tips:
• In the UK, bank lending is given directly to a lawyer, which is different from paying directly to a seller in a domestic bank. The next lawyer received the money confirmed, then pay the lawyers at home, understand the relevant laws and regulations between the two lawyers trading, the risk will be smaller.
• Loan schemes in UK mortgages are flexible and can not only choose fixed or floating interest rates on their own, together with the principal and interest payments, but also the principal and interest payments, and even the bank can be replaced after a certain period of time. When you loan, you can also sign a short-term contract with the bank, such as two years. Two years later, if you think fit, re-sign the contract, if you feel that the conditions of other banks better, you can always change the loan to another family to go.
• The loan period depends on the age of the oldest Shentong and generally loans to the applicant’s 65th to 70th birthday. In the first tranche of remittances, Chinese remittances overseas to pay the first installment are still subject to a limit of not more than US $ 50,000 per person per year. For average individual buyers, finding a few more people to help remit money to a British bank account Is more convenient and feasible approach. If the amount is relatively large, you can do a Hong Kong bank card, there is no limit on the sale of foreign exchange restrictions.


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