BUY TO LET SUBMISSION GUIDE

Our underwriters review every single application, on a case-by-case basis. That means we can help in all kinds of unique or complex cases - including many that some other lenders might reject. But we do need the right documents to get the job done.

• Signed and Completed Customer Declaration

• Signed and Completed Direct Debit Mandate

• These documents use DocuSign, a digital signature platform that enables clients to sign documents on their devices.

• Evidence of deposit (If a gift we require a gifted deposit form)

For cases in individual’s names who are basic rate take payers with an ICR less than 140%;

• Proof of tax status – most recent payslip or SA302

For Ex-Pat cases;

• Proof of income

For Portfolio Landlords with 4 or more Mortgaged BTL properties

• Complete the portfolio submission form and upload to Cotality BTL Hub or E-mail the submission form to pfdocs@themortgagelender.com

Follow our list of five tips and your submissions should be on the right track for success.

1. When you progress a DIP to full application, you’ll be presented with a bespoke checklist of everything you need to upload at this stage. Follow that and you can’t go wrong. Make sure you provide everything on the list, or your application can’t progress into the underwriting queue

2. Only give us what we’ve asked for. You might think you’re being helpful by providing extra info, like additional bank statements, but it can slow things down.

3. Upload all your documents together. This might mean holding back until you’ve gathered everything you need, but it’ll save time in the long run.

4. Give us a reason for anything we might query. Just leave a note on the portal to highlight anything relevant.

5. Give us a call. If you’re uncertain about anything, you can always contact your local BDM or contact our sales hub.

We use DocuSign to help streamline the process for you and your clients. DocuSign is a digital signature platform that enables clients to sign documents on their devices.

Our checklist (BTL checklist) should make this clear, but just to make sure, here are a few key points to remember:

• We need bank statements that cover the full period requested, for example 2 or 3 months, including all consecutive pages, no gaps - we will specify how many months are required.

• Statements should provide evidence of employment income where applicable.

• Self-employed cases will require three months’ business bank statements supporting income and turnover figures.

One of the most common issues we see is where brokers say a deposit is from ‘savings’ when it’s actually a ‘gift’. This generates the wrong checklist items and asks you to provide the wrong documents - so it’s important to get it right.

• If the deposit comes from savings, we’ll need a minimum one full month’s bank statement evidencing the funds.

• (However, if the level of savings doesn’t fit with the applicant’s income, or if there have been big credits into the account, we might need more evidence.)

If your client has received a deposit from a generous family member, we’ll need:

• Proof of funds leaving the donor’s account and going into the buyer’s account (this is our preference, but we can still consider if the deposit is currently in the donor’s account)

• A completed gifted deposit/equity declaration form to confirm the deposit is a non-refundable gift, and not a loan

• Proof of the donor’s ID (we’ll attempt to identify the donor electronically, but if you provide ID it could speed things up).