SA302 forms - HSBC

ash213

Hi

Will HSBC accept my three years SA302 forms for proof of self employed income, or will they look into my accounts etc?

I would like to know as i do not have my accounts audited by an accountant, so need to know what HSBC requirements are before I go forward.

If HSBC do need audited, which banks or mortgage brokers are OK with simply the SA302 ?

Thanks

ACG

Are you a sole trader or ltd company?
Im going to assume sole trader, if that is the case then SA302s should be fine. If its ltd co then they may want to see accounts to ensure the company is not going into debt to pay you a wage.

ash213

sole trader,

thanks for the heads up....i shall go through with the full application then, once i have found a property.

unless anyone thinks another bank would be easier?

BargainHunters

These SA302 forms are a nonsense for mortgages. The lenders insist on them despite my accountant verfying my earning in a letter. My accountant tried to charge me £50+VAT to retrieve copies from HMRC but I found this website http://www.sa302form.co.uk/ which told me what to write and where to write to. Got my forms within 10 days. My accountant wasn't chuffed mind :T

kingstreet

You can phone HMRC, ask for your SA302s and have them faxed to your accountant or broker the same day.

We have it done regularly.

Leon_W

Had some yesterday within an hour of request.


Phone the self assessment helpline 0300 200 3310 (make sure you have your 10 digit tax reference number to hand)and they were subsequently faxed to me pronto.


Can't say all my dealings with HMRC run as smoothly though.

amnblog

ash213 wrote: »

unless anyone thinks another bank would be easier?

Everyone thinks another bank would be easier.

kingstreet

ash213 wrote: »

Hi

Will HSBC accept my three years SA302 forms for proof of self employed income, or will they look into my accounts etc?

I would like to know as i do not have my accounts audited by an accountant, so need to know what HSBC requirements are before I go forward.

If HSBC do need audited, which banks or mortgage brokers are OK with simply the SA302 ?

Thanks

FWIW no lender requires audited accounts for a "normal" case.

If prepared by an accountant, they should simply be signed by the accountant, so they are certified, but not audited.

As mentioned, it's so easy to get hold of SA302s now, most of us keep away from accounts. One or two lenders still like an accountant's certificates though, for some strange reason.