Packaging Guide

Our guide can help you and your client to secure an offer quickly and efficiently.

Packaging Cases For Faster Processing

Getting an offer for your client quickly is important to everyone, so we’ve got a guide to help achieve this.

image of a couple looking at forms

Documents

  • Upload the correct supporting documents (checklist items) at the same time.
  • Certify copies of original documents, this excludes on-line bank statements/payslips.
  • Label documents correctly.

Solicitor

- Check your clients Solicitor is on our panel:

Solicitors not on the panel can apply via LMS to join.

Commitments

- Declare all financial commitments including e.g. student loans, childcare costs including childcare vouchers, Missing this information may result in your application not meeting affordability criteria when they are added at our end.

Id & Proof of Address

Identity will be certified using an Electronic Identity search (EID) where possible. Proof of Identification/address may be required in some instances and one document from List A and one from List B below should be provided as evidence. If you are unable to provide any of the documents listed, please contact the underwriting team/packaging team.

Current Signed Passport

Utility bill or certificate from a supplier of utilities or pre pay terms issued within the last 3 months.

Resident Permit issued by Home Office

Local Authority tax bill valid for current year.

Current Full or Provisional UK photo card driving licence (showing correct address)

Current Full or Provisional UK photo card driving licence (showing correct address)

Letter from the Department of Work and Pensions.

Income

Employed

Latest 3 months payslips or equivalent if paid weekly and most recent P60. An employment reference will be requested where there is any doubt.

Online payslips are acceptable. If payslips are not online, they must be certified as being true copies of the originals. Must show the applicants name and, where an address is displayed, this must match the application.

Employed – Using Bonus

In addition to the above: Payslip showing receipt of the bonus payment.

Fixed Term Contract

Latest 3 months payslips or equivalent if paid weekly; and Current and previous contract.

As above

Zero Hours Contract

Latest 6 months pay slips or equivalent if paid weekly; and Contract of employment.

As above

Bank Hours (applies to NHS professionals only e.g. doctors and nurses)

Latest 6 months pay slips or equivalent if paid weekly; and Contract of employment.

As above

Self-Employed

Latest 2 years audited/certified accounts: and Latest 2 years tax calculations and tax overviews; and Accountants reference (this will be requested by the Society); and The latest 3 months business bank statements

The full set of accounts is required. Abridged versions from Companies House website are not acceptable. Tax Calculations (SA302’s) should show: Logo – GOV.UK Name and tax year UTR (unique tax reference) Progress – 100% (online only) Tax overview information should match the tax calculation (SA302) HMRC can provide the above regardless of how the tax return is submitted.

Company Directors <25% shareholding

See employed.

Company Directors with >25% shareholding

See self-employed.

Second Job

As per employed/self-employed/company directors.

Retirement Income - State Pension

A letter from DWP confirming the pension amount.

Retirement Income - Private/ Occupational Pension

A recent statement/letter from the pension provider confirming the annual pension.

Retirement Income – pension drawdowns

A recent statement from the pension provider confirming the value of the fund.

Benefit Income

A letter from the relevant department/benefit provider confirming the level of benefit income.

BTL Rental Income

Latest 2 years tax calculations (SA302’s) and accompanying tax overviews. AST for each property. Latest 3 months bank statements to show rental income.

Investment Income

Latest 2 years tax calculations (SA302’s) and accompanying tax overviews. Most recent statement from the investment provider confirming the total fund value.

Maintenance Income

A certified copy of the Court Order. Latest 3 months bank statements showing maintenance payments.

Maternity/ Paternity Income

See employed. In addition we will write to the employer for a reference to confirm return date and salary.

Bank Statements

All

Latest 3 months bank statements showing salary credits/income and household expenditure (if applicable). If the applicant has multiple current accounts, the underwriter may request statements for these accounts in addition to the above.

Online statements are acceptable and must show/contain: Applicants name and address Logo of the Bank/Building Society Sort code and account number A running balance All pages are required with no gaps in dates For BTL applications – the latest 3 months rental income

Self-employed

In addition to the above, the latest 3 months business bank statements should be submitted

Deposit

All purchase applications using savings as a deposit

Latest 6 monthly bank/savings statements. If these are across multiple providers, all statements are required

They must show the deposit funds accumulating and the trail of movement if applicable.

Our Lending Types

Self-build

Planning Permission, Costings, Submission Form, Plans

Must have at least 12 months remaining unless the project has already commenced. Fully completed and available from our website – intermediaries/downloads. Fully completed and available from our website – intermediaries/downloads. Detailed plans/drawings of the project.

Right to Buy

Right To Buy Notice from the landlord

The letter confirming “Right to Buy” from the landlord detailing the Purchase price and discount.

Shared Ownership

Memorandum of Sale from the Housing Association

The letter should detail the purchase price, share being purchased, rent, service charges.

Purchase or remortgage where the applicant has background BTL properties

The current AST. Evidence of rental income via 3 months bank statements

The AST must show the name of the borrower, tenant, monthly rent payable, dates.

Remortgage with additional borrowing for Home Improvements

Estimates for the proposed work

Remortgage with additional borrowing for Debt Consolidation

Statements/settlement figures from the creditor/s for all commitments being repaid

Additional requirements for Shared Ownership/Right To Buy/Buy to Let/Remortgage including home improvements/Remortgage including debt consolidation.