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To prove your income amount, it’s usually the latest three payslips for an employee and the latest 2 years’ accounts for self-employed. On top of this, you will need to produce proof of ID, address and 3 months’ bank statements.

We recommend that you obtain an Agreement in Principle (AIP) ahead of viewing properties in the midlands, to avoid any potential disappointment. At the very latest we believe you should obtain one prior to making an offer to help with your bargaining position.

An Agreement in Principle will usually last for between 30 and 90 days depending on the Lender. If your Agreement in Principle expires it can always be refreshed with the assistance of your mortgage advisor.

To purchase a house, the minimum required deposit with High Street Lenders is usually around 5%.  If however you are buying a property at a concessional purchase price ie buying at a discounted price such as a Right to Buy or Acquire or  a lower than market value price from a landlord or family member you may not need a deposit.

If you have had problems with your credit, you can still get a mortgage, however, you may need to put down a higher deposit than usual, often between 15%  to 25%  of the purchase price.

You are able to get a mortgage once you have submitted at least one year’s accounts. Most Lenders use your salary plus dividend. Or salary and retained profit to calculate the maximum mortgage amount you can borrow, whereas others go off your net profit.

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