Confused FTB

ftb2020

Hi, we are FTB and are using an independent broker to secure a mortgage with Santander. We have passed affordability, will be using HTB and are contributing a 5% deposit. 

Property is new build, reserved and should be ready December.
AIP received this Monday. 

Broker advised he would do full application the same day.
We provided my partners sa302 and tax year overview (Self employed), the broker has told us that as the tax isn’t paid (tax year ending 5th April 2020), they may ask for a bank statement showing the tax can be paid or tell us they will only offer a mortgage if the tax is paid? Does this sound right? The tax isn’t due until 30th Jan and my partners business funds are crucial cash flow at the moment so it seems crazy to pay the tax months before it is due. 

We got updated today that Santander have passed our application to underwriting however we are still waiting valuation. 

Can anyone shed any light, been feeling so sick and nervous and really hope we don’t hit a brick wall with the tax payment. Thanks in advance 

csgohan4

What the underwriters want, you give generally. If you don't, they won't lend. Sounds normal to me. They want to ensure you have saved enough money to pay the latest tax bill incoming

pablakeman

This would be for affordability if they wanted to see it - as it has to be paid at some point, it in theory means you can afford a lower monthly amount for the mortgage. 

The broker is right to warn you, but the bank may not ask for it.