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Buy to Let Packaging Guide

How to package your cases for faster processing

We understand how important it is to keep your clients happy and getting them an offer fast is just as important to us as it is to you. We’ve come up with this Buy to Let Packaging Guide to help your clients get an offer with as little fuss as possible.

Our handy tips for packaging your cases

Help Us to Save Time and process the application quicker By:

  • Only providing what we ask for.
  • Uploading requested docs on the same day rather than on different days. (Documents don’t need to be certified).

Approval in Principle

Please complete the AIP in full – if you miss any information off this could slow down the application.

ID Verified Electronically

We use our internal system to verify your clients ID.

Make sure the address details for the last 3 years are accurate. *Proof of ID may be required if verification fails

Declare all Commitments

Make sure we know about any debts as missing these off the application will slow us down.

Buy to Let portfolio

You should tell us about any other Buy to Let properties, mortgaged or unencumbered your client has.

Note: if your client is classed as a ‘Portfolio Landlord’ please ensure you complete the ‘Personal Statement of Assets’ form.

Valuation

We’ll instruct the valuation as soon as the valuation fee has been paid (unless you tell us otherwise).

Residential history

Your client will need 3 years residential address history in the UK.

Employment
(Employed clients only)

Your client must be in permanent employment.

Your clients income

Employed clients
What we need to see

  • First time landlords (less than 12 months landlord experience): latest payslip and a bank statement that shows the salary credit for that month.
  • Experienced landlords (more than 12 months landlord experience): latest payslip.
  • Portfolio landlord: latest payslip and a bank statement that shows the salary credit for that month.
  • Bonus, overtime or commission: You can send us any additional P60’s & payslips to show bonus earned or overtime & commission payments.
  • New job: If you client has just started a new job, we need to see a signed acceptance of employment and the first payslip or confirmation from employer that employment has started.
  • Maternity leave: You can send us payslips to show your client’s pre-maternity income and a letter confirming intention of return to work date and salary.

 

Day Rate Contractors
What we need to see

  • Current and previous contracts covering the last 12 month period (2 year track record if less than 3 months remaining on current contract)
  • If paid PAYE/Umbrella Co: Latest 3 payslips/invoices and latest 3 months personal bank statements
  • If paid via apps own Limited Company: Latest 3 months business bank statements and latest 1 months personal bank statement

Self-employed clients
What we need to see

  • Sole Traders & Limited Company Directors >25% shareholding and/or drawing dividends We will need the last 2 years SA302/Tax Calculation documents and the supporting Tax Year Overviews.

    Plus: The latest business bank statement.

    In additional if the underwriter requests an accountant’s reference and/or projection we can accept an accounts reference which you can send to the accountant on our behalf saving time.

    The references can be found here.

  • If your client is a Salaried Director with <25% shareholding and no dividends are being used:
    • First time landlords (less than 12 months landlord experience): latest payslip and a bank statement that shows the salary credit for that month.
    • Experienced landlords (more than 12 months landlord experience): latest payslip.
    • Portfolio landlord: latest payslip and a bank statement that shows the salary credit for that month.
  • If your client is a partner with a minority shareholding: We’ll need the last 2 years SA302 documents If these are online documents, supporting Tax Year Overviews are required.

    In addition:

    • First time landlords (less than 12 months landlord experience): bank statement that shows the salary credit for that month.
    • Portfolio landlord: bank statement that shows the salary credit for that month.
  • If your client is an employee of a family business: We’ll need their latest P60 and the Accountant’s name, address and qualification to verify the income.

    In addition:

    • First time landlords (less than 12 months landlord experience): latest payslip and a bank statement that shows the salary credit for that month.
    • Experienced landlords (more than 12 months landlord experience): latest payslip.
    • Portfolio landlord: latest payslip and a bank statement that shows the salary credit for that month.

If we ask for the following documents these are the requirements

Proof of residency
What we accept

  • Bank or credit card statement
  • Utility bill
  • HMRC documentation

Please note, these can't be online documents.

Proof of identity
What we accept

  • Drivers licence (full or provisional)
  • Valid passport
  • Foreign national's card
  • Residence permit
  • Signed employer ID card
  • Armed forces ID
  • EU member state ID card
  • Firearms certificate
  • HMRC tax notification
  • Benefit book or letter which confirms your client’s right to benefits

Please note
If we ask for a document to be dated:

  • Within the last 3 months – it should be dated before the application
  • 2 years prior to application date – it should be dated 2 years back with 3 months leeway either side of the application date.

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