Mortgage Providers and Lenders

Have you recently decided to move house or perhaps renew your current mortgage to get a better rate? Being self employed, are you wondering what sort of information you will need to provide to the banks in order to stand a chance at getting a good mortgage?
Some Mortgage providers and lenders will require an Accountant’s Certificate to be completed, detailing the previous 3 years of income along with signed copies of your Accounts for the past 3 years. Just forward on the information they require to us and we will provide you with exactly what you need.
More recently, HMRC have provided a list of Mortgage Providers and Lenders which now accept 2 documents for tax years they require:
https://www.gov.uk/government/publications/mortgage-providers-and-lenders-who-accept-a-sa302-tax-calculation-or-tax-year-overview/mortgage-providers-and-lenders-who-accept-a-sa302-tax-calculation-or-tax-year-overview
This is the link which takes you to the specific HMRC website.
The 2 documents these mortgage providers and lenders require are a ‘Tax Year Overview’ and an ‘SA302’.
The Tax Year Overview can be found on your account with HMRC which we have access to and can obtain copies of these for you. They detail the amount of tax due for the tax years in question, the payments, and any outstanding balances of tax due.
An SA302 is something which details the amount of taxable income you have earned for the specific tax years in questions, and also give detail of how the income has been taxed. It also gives a breakdown of the personal tax payments due by 31st January and 31st July of the year it is for.
These 2 documents should coincide with each other and it proves to the mortgage provider that we (as your Accountant) have lodged the tax return in which the SA302 has been produced.
Some mortgage providers and lenders only prefer the original HMRC copies of the SA302’s, however the update from HMRC seen in the link above suggests that several banks have actually agreed to accept the SA302 forms which are produced by our commercial software.
This should mean a quicker turn around for you in the information you require from us to give to your mortgage providers.
If you are thinking about getting a mortgage for your property, then contact us as early as possible using the details below. We can provide you with most of the information in a flash, but unfortunately should your specific mortgage provider need information verified from HM Revenue and Customs (HMRC), then unfortunately HMRC can take a couple of weeks to provide copies of the SA302 forms – so the earlier we know, the quicker we can help you!