Docs for a full mortgage application - Just 1 payslip?

The_Palmist

Did you receive anything in the end or are you still in waiting ?

thor

Ms_Sophia wrote: »

Frankly I am on the end of the rope with ING... Looks like they treat the rate we applied for as a loss leader and trying their best not to give it to anyone... I can't imagine any other explanation...

If Ing's past antics with their savings accounts is anything to go by, this sounds the most likely. I will never trust them again even if they were charging 0% APR! I'm sure ING would find a way to turn it to their advantage at the expense of their customers.

Southend1

I was just going to make a thread on exactly the same topic. Applied for a C&G mortgage in the local C&G branch yesterday having already been in before and given a "mortgage promise"/ mortgage in principle.

The adviser only looked at one payslip on my first visit, and before I went to make the full application I checked what docs to bring and was told I didn't need anything further. Of course I didn't quite believe this so I took everything just in case and it did come up on his screen to photocopy my latest payslip. But that was all. The adviser looked at my passport on my first visit but never photocopied it or anything.

I have forked out for the survey now so I'm quite worried that once that's done I will be bombarded with requests for additional documentation, even though the adviser said it wouldn't be necessary. Hopefully it won't happen and if it does, then it won't hold up the application too much.

I'm surprised they don't need more documents at the application stage really. I'm also stressing about whether the mortgage will actually be offered as it seems there are so many things that can go wrong or hold things up! As you can probably tell I am a FTB with no experience of this stuff!

HappyMJ

I doubt you'll need any more ID. For some reason they don't mind lending you money with minimal ID but they won't let you save money without a full ID check. I started my mortgage with The One Account with no ID, no payslip...nothing. I only had a temporary visitor visa at the time and no national insurance number as yet but I did have a 25% deposit. All I had to do was prove who I was to the solicitor. I've also had credit cards given to me without having to prove anything at all.

kingstreet

Southend1 wrote: »

I was just going to make a thread on exactly the same topic. Applied for a C&G mortgage in the local C&G branch yesterday having already been in before and given a "mortgage promise"/ mortgage in principle.

The adviser only looked at one payslip on my first visit, and before I went to make the full application I checked what docs to bring and was told I didn't need anything further. Of course I didn't quite believe this so I took everything just in case and it did come up on his screen to photocopy my latest payslip. But that was all. The adviser looked at my passport on my first visit but never photocopied it or anything.

I have forked out for the survey now so I'm quite worried that once that's done I will be bombarded with requests for additional documentation, even though the adviser said it wouldn't be necessary. Hopefully it won't happen and if it does, then it won't hold up the application too much.

I'm surprised they don't need more documents at the application stage really. I'm also stressing about whether the mortgage will actually be offered as it seems there are so many things that can go wrong or hold things up! As you can probably tell I am a FTB with no experience of this stuff!

Who do you bank with?

Southend1

kingstreet wrote: »

Who do you bank with?

Barclays. Does that have some influence on it then?

kingstreet

It wouldn't in your case. If you'd banked with Lloyds they may have had reduced requirements.

Southend1

kingstreet wrote: »

It wouldn't in your case. If you'd banked with Lloyds they may have had reduced requirements.

Thanks for the reply kingstreet :beer:

Could it be because I am asking for less than 75% of the property value?

kingstreet

It wouldn't normally influence the evidence of identity or proof of address requirements but LTV has a definite impact on the status requirements. If you have a look at posts #6 and #11 I pretty much cover both issues. The lender also has your solicitor acting for it as well as for you and I'm sure the solicitor will get ID & PoA as well.

IIRC when C&G accepted business from intermediaries, we keyed the details of the ID & PoA on their system, but weren't required to send them copies.

Southend1

Maybe he keyed my passport number into the system without me noticing! Also I guess he probably checked the electoral roll through his system. And he must have been happy with one payslip as proof of income.

Once the valuation comes back, is it just a formality to approve the loan provided the valuation is ok or does it go to someone to make a decision based on all the info provided? This is where I am worried it might get held up and more information requested. The people I am buying from want to complete asap as they are looking to buy a repossessed property.