Paperwork required for a Mortgage Application

Find a Shared Ownership mortgage on Share to Buy

Documents required by lenders when applying for a mortgage

To help the mortgage process go as quickly as possible, it’s a good idea to get your documentation ready in advance of your application. Generally, lenders will require the following supporting paperwork to accompany your mortgage application:

  • Proof of identity
  • Proof of address
  • Payslips
  • SA 302 (if self-employed)
  • Accounts
  • Personal Bank statements
  • Benefit award letter
  • P60
  • Proof of state benefits
  • Proof of deposit
  • Credit report
  • Memorandum of sale

This is not an exclusive list and the lender can request additional documentation at any point. To find out more about each piece of documentation, please see below.


Proof of identity for each applicant

If you’re planning on using your passport, you must ensure that it is current and valid. If your passport has expired, you’ll need to get this renewed before using it as your proof of identity.

It’s also worth noting that you can use your driving licence as proof of identity or proof of address (see below), but not both. Your license must be valid and show your current address; if it shows your previous address, even if you regard your current address as short term, it will need to be updated.


Proof of address for each application

As stated above, this can be your driving license which can be used as either proof of address or proof of identity, but not both. This can also include:

  • Bank statement from a different account to which your salary is paid into from the last three months.
  • Utility bill dated in the last three months.
  • Council Tax bill for the current year.
  • PAYE coding letter from HMRC for the current year.
  • Benefits award letter.

Please note that mobile phone bills, car insurance policy and TV license are not acceptable.



You will need to provide the last three months’ payslips (not handwritten) or, if self-employed, the last two years’ tax calculations and overviews as agreed by HMRC). Please note:

  • If you are paid monthly then the last three months will be required.
  • If you are paid weekly then the last thirteen weeks will be required.
  • If you are including a bonus as part of your pay but it is not guaranteed, this will need to be evidenced.
  • If this bonus is paid monthly then it is still three months’ payslips. However, if this is received annually, the payslip showing the bonus received for the last two years will be required.



For self-employed applicants, a SA302 is issued by HMRC when your annual tax assessments have been agreed. You will need to produce the last two or three years, including tax calculations.



These are really only required if you are an employed director of a company in which you own more than 20% of the shares.


Bank statements

You will be required to produce personal bank statements for all accounts from the last three months.

Some lenders will demand postal statements, and it’s often worth ordering these in any event, but others will accept internet statements as long as:

  • Your name and address are shown.
  • It contains your account number and sort code.
  • It includes the bank’s logo.
  • If the http address is included at the bottom of each page.


Benefit award letter

If you are using tax credits as part of your income, you will need to provide the latest award letter.



The P60 is a form that is issued by your employer at the end of each tax year (April) and shows your total income, tax and National Insurance contributions over the past year. Not all mortgage lenders will require one but they can be useful to have if any queries about income history arise.


Proof of state benefits

Required if state benefits are being included within the affordability.


Proof of deposit

Proof of your last three month’s savings statements or a gifts deposit form.


Credit report

You should obtain a copy of your credit report – preferably from Equifax or Experian which are most used by mortgage lenders. Late credit payments, defaults and Country Court Judgements (CCJ’s) will impact your credit score and could result in an application being denied.

This should show all of your addresses over the last three years; if any of these are shown incorrectly, you will need to contact the credit agency to have them corrected. You should also check that your credit report shows your correct voters roll information from the last six years.


Memorandum of sale

The Memorandum of sale is provided by the housing association. Not all lenders will require this but if you are buying with a 5% or 10% deposit, you will most probably need one.

For a Shared Ownership home, this will set out the following details:

  • Your name(s).
  • Property address.
  • Full market value.
  • Share purchase price.
  • Percentage share being purchased.
  • Monthly rent.
  • Annual service charges.
  • Annual ground rent.
  • Remaining length of lease.


When assessing an application, the lender is looking for financial stability. For example, they will be concerned if they see more than £50 per month being spent on gambling sites and may decline your application accordingly. It is important not to exceed any overdraft facility and ensure all direct debits/standing orders are paid on time and not returned due to lack of funds.


If you are looking for a mortgage, then we can help! Our Shared Ownership Affordability Calculator can give you an indication of what is an affordable amount to borrow for your mortgage, our Mortgage Comparison tool allows you to compare deals available on the market, and when it’s time to apply for a mortgage, a specialist mortgage broker can help you every step of the way.

For more information about Shared Ownership mortgages, head over to our article index.