Extra Documentation for those Self Employed

izoomzoom

Curious, what extra documentation your lender asked for, if you are a self employed applicant?

MalMonroe

Just the same as if I was employed! Bank statements, etc. They need to know you're going to be able to pay a loan/mortgage. All lenders are different though, you need to shop around before you make a serious application. Just do a google search, it's so easy!

RoloCookie

We got asked for accountants details, 6 months payslips and 3 years of SA302s

RoloCookie

Business bank statements 

Jamaicanmelaff

My initial documents were:

• SA302 and tax year overview for 2019/20
• 3 months' bank statements
• Proof of ID
• Proof of deposit
• Proof of address.

They requested as additional documents (primarily because of the pandemic situation):

• Additional bank statements going back to January
• SA302 and tax year overview for 2018/19
• 3 months' business bank statements (sole trader, do not have)
• 3 months' foreign account statements (because I have foreign income, but as above do not have)
• Proof that my business is still running and my income hasn't been drastically affected by Covid - provided all invoices between March and end of May, most matching payments into my account as they could see on my statements and some unpaid.

LDNgirl24

I’m a Self employed contractor OH is PAYE. We’ve  apllied via a broker.  So far the lender requested  confirmation of my job title, a description of my role, a copy of my current contract, confirmation of my time in my current contract,  1M payslip for OH and 3M bank Statements. Difficult to communicate with broker so unclear which  bank statements  they need.  We provided 3M business bank Statements, 3M joint act statements (showing our direct debits) and most recent joint and business savings statement (just in case)

Now I’m stressing out as i’m not sure whether they will also want to see 3M individual account statements.  We have no debt (excluding existing mortgage) they’ve done hard searches on both our files so this should verify that.

Feeling super anxious about losing our dream home. Any advice on what the underwriter is looking for in our bank Statements? And whether it likely they’ll want more info?