When applying for a Birmingham Midshires mortgage, there are several documents that must be provided in order to be approved. Depending on the type of account and the nature of the enquiry, different evidence may be required. For employed applicants, they must have been employed for a minimum of three months in their current job and have had twelve months of continuous employment. The last payroll (at the time of application) is also necessary to verify income, regardless of whether the applicant is paid weekly, four times a week, biweekly, or monthly.
Self-employed applicants must have been self-employed for at least two years and be able to provide two years of business figures. Contract workers should normally have a permanent contract and have been with their current employer for at least six months. If there is no date available on the certificate, adequate proof that it was requested in the last three months (either from the Land Registry or from the lawyer), or a copy of a recent mortgage statement dated within the last three months that contains at least one of the names of the applicants, or a copy of a mortgage statement more than three more months of the bank statements from the last three months confirming the payment, will be accepted. All other applicants must be current owners of property in the United Kingdom or have been previous owners of property in the United Kingdom, which can be credited in the land registry. A Portfolio Landlord request is when customers have four or more BTL properties mortgaged, including the new transaction.
We understand that personal income may not reflect the applicant's overall financial picture and that they may have other assets and savings available. First-time landlords are being accepted, but at least one applicant must currently own a property in the United Kingdom, which will need to be validated before an offer can be made. In all cases where the request is subject to a manual subscription (including all requests from portfolio owners), a complete customer profile form (pdf, 138 KB) must be submitted. If there is no date on the certificate, adequate proof (either from the Property Registry or from the Attorney) that it was requested within the last three months, or a copy of a recent mortgage statement dated within the last three months containing at least one of the names of the applicants, or a copy of a mortgage statement of more than three months plus bank statements from the last three months confirming the payment, is accepted. The Birmingham Midshires Corporate Centre is located at Pendeford Business Park Wobaston Road Wolverhampton WV9 5HA. The maximum number of applicants allowed is four.
The applicant does not need to be an occupying owner, but at least one applicant must currently own a property in the United Kingdom, which will need to be validated before an offer can be made.