What you need as first time buyer

Paperwork Needed by First Time Buyers

first time buyerFirst time buyers will all be aware that they will need to submit various types of paperwork when they are applying for a mortgage. With this in mind here are some of the items of paperwork you will need to have to hand when you visit a broker or apply for a mortgage:

3 months of bank statements
Two forms of ID – in most cases your driver’s license and your passport will be perfect as they both have your photo on them and your driver’s license has your address.

If you have been renting from a private landlord you will need to provide evidence that you have been making payments on time. Bank statements or cancelled cheques are suitable for this. Two or three month’s worth of your pay slips which will show the amount that you earn and the regularity you get paid. If you are self employed you will need to provide your most recent tax return.

These are the basics that you will need to present to your bank or your broker for the process to begin. If you need any other documentation you will be told of this and given time to present it if needed.

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