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Common packaging issues – avoid unnecessary delays

Get your customer’s application to offer as quickly as possible by providing the correct documentation upfront.

Here’s a reminder of what we need for new applications:

Employed customers

  • Latest payslip required in all instances.
  • Income affected by Covid-19? Please add a note in the free format box on the broker platform explaining how the income has been affected and the date affected from, before submitting the case. Please include as much detail as possible as this may avoid an underwriter having to contact you to request further information.

Furloughed employees returning to work

  • As furloughed employees start returning to work and are no longer reliant on the government Coronavirus Job Retention Scheme, the post furlough income can be used in a customer’s application.
    Please answer ‘yes’ to the application question that asks if there are ‘any future changes to income’ and add a note in the free format box confirming the rationale for why the income should be used.
    A letter from the employer is required to confirm the employee’s income and return to work date which must be within the next three months.
    If the employee is not returning to work on the same basis as they were employed pre COVID-19, the revised income as evidenced by the employer letter can be used.

Employees continuing to be partly or completely furloughed

  • The latest payslip is required in all instances. If we cannot evidence the furlough amount from the latest payslip then a letter from the employer will be required. This should include details of any top up income.

Self-employed customers

Sole Trader, Partnerships, LLPs with less than 200 partners

  • Last two years Tax Calculation and corresponding Tax Year Overviews.
  • Income affected by Covid-19? Please add a note in the free format box on the broker platform explaining how the income has been affected and the date affected from, before submitting the case.
  • Either January, February or March business bank statements (or personal account statements if used for business purposes) and;
  • The last 60 days’ worth of business bank statements (or personal account statements if used for business purposes) of which the latest date showing on the statements must be within a week of the application date.
  • For HSBC business account customers, we can rely on internal transaction data, as an alternative to obtaining actual bank statements.
  • PDF statements are preferable, but screen shots will be accepted.
  • The government grant scheme, Self-Employment Income Support Scheme (SEISS), was extended on 29 May 2020 allowing eligible businesses (i.e. sole traders and partnerships with net profits less than £50k p.a.) to claim a second and final taxable grant covering a further three months. Please ask your customers who are eligible for this grant to provide the following:
    • The Self-Employment Income Support Scheme (SEISS) statement from HMRC (email/letter) to confirm the amount of the grant agreed together with evidence (email/letter) that the SEISS statement relates to the applicant.

      OR
    • If the “HRMC SEISS GRANT” transaction is showing on the bank statements, then no further information is needed.

LLP with 200 or more partners

  • Letter issued by either the company finance director or accountant.
  • Must detail the customer's earnings over the past two years and be dated within the last three months.

Limited Companies

  • Last two years finalised financial accounts (the most recent of which must be no more than 18 months old). If there are multiple directors within the business, and the financial accounts do not confirm the distribution of salary to each director, then evidence will be required from either the last two years P60’s or last two years Tax Calculations and corresponding Tax Year Overviews.
  • Income affected by Covid-19? Please add a note in the free format box on the broker platform explaining how the income has been affected and the date affected from, before submitting the case.
  • Either January, February or March business bank statements (or personal account statements if used for business purposes) and;
  • The last 60 days’ worth of business bank statements (or personal account statements if used for business purposes) of which the latest date showing on the statements must be within a week of the application date.
  • For HSBC business account customers, we can rely on internal transaction data, as an alternative to obtaining actual bank statements.
  • PDF statements are preferable, but screen shots will be accepted.

Identification and address verification

  • Non-certified scanned documents for identification and address verification (ID/VA) as well as income verification accepted for business submitted through our broker platform and our legacy portal.
  • If the verification checks fail, please request a passport in the first instance (this can be a scanned copy or photo of the document supplied by the applicant).
  • If a passport is not available, please request a driving licence.
  • In cases where these documents are unavailable then the case will be referred on a case-by-case basis.

In addition to providing the correct documentation, please ensure:

  1. The details on the documentation/evidence provided match the details submitted on the application.
  2. The applicant(s) name and address are the same on all the documentation provided.
  3. Accurate email addresses and phone numbers are included within the application for the applicant(s).

This website is for the use of FCA authorised mortgage intermediaries only.

If you reproduce any information contained in this website, to be used with or advise clients, you must ensure it follows the FCA's advising and selling standards.

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