What do I need to get a mortgage in principle?
Getting a decision in principle (also known as an agreement in principle or mortgage in principle) used to mean, sometimes multiple, trips to the bank with large stacks of paperwork.
Thankfully, nowadays this is all done online. And at Mojo we’ll make this as easy as possible for you. In fact you may well be able to do it all from your phone!
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1. Add your details online
No 2-hr phone calls or branch visits. It takes a few minutes to tell us what you need from your next mortgage online
2. Choose how & when to speak to your broker
ASAP? Or choose the perfect time - 6 days a week and evenings
3. Get your mortgage with Mojo
We’ll check and chase to help avoid delays. Get regular updates from your broker and case manager
What documents will mortgage lenders ask for?
When you make a full mortgage application, you’ll need to provide more detailed proof of your income and expenditure, evidence of where your deposit came from and details of the property you want to purchase.
However, the MIP (mortgage in principle) stage is much quicker. One of our mortgage advisers can often get you a mortgage in principle within 24 hours, but in order to avoid delays, be sure to upload your documents as soon as possible.
What will you need to get me a mortgage in principle?
No matter whether you're applying for your first mortgage or a remortgage, we'll need the following three documents from you. These can be provided electronically through your MyMojo portal:
Passport or driving licence - A scan or good quality photo in JPEG or PDF format
Latest payslip or SA302 (tax calculation) if you're self employed - again these can be provided in PDF or JPEG - if you have physical copies, you’ll just need to upload a scan or photo
Latest bank statement which can be downloaded directly from your online banking app and uploaded as PDF files. You can also upload scans or photos of paper statements
Uploading photos – getting it right the first time
If you are taking photos, make sure:
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All info is clearly visible and readable
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The photo captures the full document - use a plain white background if necessary
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For passports make sure the long sequence of numbers and letters at the bottom of the photo page are visible
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For bank statements take on photo for each page of the paper statement
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There are no fingers or thumbs
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No flashes or shadows that affect the visibility
Provided we get these 3 documents from you now, we can get you a mortgage decision in principle from a lender.
As all lenders have slightly different terms, what you’ll need to provide if you go to the full application stage can vary from one application to the next. But don’t worry, your case manager will be in touch to let you know exactly what’s needed.