Residential packaging guide

ID and proof of address requirements can be found in the ID requirements guide.

For all applications, all customers to provide bank statements that evidence a minimum of 1 income receipt (where applicable) dated in the last 30 days and payments to all secured and unsecured Lending agreements.

Latest 2 months payslips and evidence of 6 months continuous employment history. Where possible we will use the year-to-date figure on the payslips to confirm employment history but if this does not cover the last 6 months a P60 will be required.

We require 1 months business bank statement dated in last 30 days to confirm the trading levels of the business. We accept the average of the last 2 or 3 years income, where looking to use an average of the last 3 years, then 3 years figures/proof is required, if using 2 years figures then 2 years figures/proof is required.

And

A completed Metro Bank Accountant Certificate (accepted for loans less than £1 million).

OR

Tax calculations and overviews with an accountants covering letter to confirm figures match that submitted to HMRC.

OR

A copy of the submitted SA100 (tax returns) with Inland Revenue mark or tax calculations and overviews printed on accountant headed paper for the last 2/3 years

OR

For limited company directors and shareholders who own more than 25% of the business, we will require 1/2 years’ worth of full, submitted, signed company accounts that shows 2/3 years figures.

For partnerships we require 1/2 years full partnerships accounts (showing 2/3 years figures) or 2/3 years partnership tax returns with Inland Revenue mark.

We require evidence of current contract, 12 months history of the same industry experience and 1 months business bank statements showing receipt of same industry income at level keyed. 12 month same industry history can be demonstrated by contracts covering the last 12 months, P60 or SA100 (tax return with IR mark).

We will require the latest annual pension letter/statement or DWP award letter.

Company scheme or final salary defined benefits scheme can be used if the customer is currently drawing from the scheme. If they are using SIPP income and are not drawing but are aged 55 years or over and able to draw, or are using investments as income, we will require both proof of current value and breakdown of investments/funds.

We use taxable profit minus residential finance costs not included elsewhere. We require a copy of the latest submitted SA100 (tax return) with Inland Revenue mark (box 40 minus box 44). Where this does not confirm the full residential finance costs, add the BTL mortgage payments as a commitment.

The last payslip received prior to leave, a P60 and a letter from the employer confirming the return to work date, salary and the terms of employment. If return to work date is over 3 months, proof of savings to cover household expenditure required.

Local Authority/Foster Agency Statement for the last 24 months and confirmation that most recent year’s figure is likely to continue for foreseeable future.

And

2 x SA302s (Tax Calculations and Tax Overviews)

For all purchases. A memorandum of sale will be required. If the deposit is being raised by other secured lending, please provide Mortgage Illustration/Offer. If from savings, 3 months bank statements showing transactions required. If transfers from another account, 3 months bank statements from that account also required to trace the source of money. If more than one account, please upload all statements at the same time and ensure the latest statement is dated in the last 30 days with a breakdown of what funds are held in which account.

In addition to the above, the Gifted Mortgage Deposit Form must be filled out to confirm a sum of money is being gifted towards a deposit on a property.

Please refer to the Mortgage Lending Criteria for acceptable repayment strategy’s and the amounts accepted. In addition documentary evidence will be required as below.

• Pension Fund – Latest pension statement showing current value of the fund.
• Liquid Investments – Latest Investment statement confirming value of the fund and type of investment.
• Savings – A minimum of three months statement(s) confirming current value, source of wealth and/or build up of funds.
• Equity in other properties - Provide the full address(es) and estimated value via the 'send a message' function, we will then try to confirm this value ourselves, however if we are unable to do this, the customer will need to provide a valuation for this property from a RICS member.

Details to be entered as part of the mortgage application. If other debts to be consolidated (e.g. repaying family members/shared ownership) then further details to be provided using the ‘send a message’ function on the intermediary portal. The last six months credit card statements or a redemption figure may be requested.

For Near Prime debt consolidation applications, please fill out the Near Prime Mortgage Debt Consolidation Form.

A bank statement dated in the last 30 days evidencing mortgage payments and rent received along with a completed BTL portfolio form.

A letter confirming the expected rent for the property an ARLA registered agent and if a new BTL mortgage is being taken a copy of mortgage illustration/Offer. Consent to Let Letter maybe requested.