How to process your mortgage application with ease

There is a lot to think about during a mortgage application. However, it is not very complicated. By ensuring that you have everything in order, you will process the mortgage application with a relaxed mind. We provide you with a head start by indicating which documents you need to collect and prepare. This way, you can save all your energy for moving and furnishing your new home.

After receiving well-founded advice, you know which mortgage is right for you. You agree to the interest offer and the application starts. The bank will still need a number of documents from you. You can look up a lot of information in advance to speed up the application process.

What happens when you apply for a mortgage?

After signing the preliminary sales agreement, applying for a mortgage is the next step. A mortgage reserve is usually part of the preliminary agreement. In most cases, you have six to eight weeks to arrange the mortgage.

It is important to provide all documents properly to enable the bank to assess your application. If the application is not successful within six to eight weeks, you may still be able to get an extension, although in the worst case, the purchase will not take place – and obviously you don’t want that!

Need help or advice when applying for a mortgage? We are happy to help! Schedule a free initial consultation today. Online or on-site – whatever you like!

What documents do you need to collect?

The bank will request a lot of information. With this information, the bank checks whether you can finance the mortgage and whether you meet all the conditions. Documents that are requested in all cases are as follows.

1. Copy of (valid) passport or ID card

Make sure that all the corners of the ID card are visible. To be on the safe side, also check the validity period; you may need to go to the municipal office to get a new one. If there are two applicants, a copy of the passport or ID card of both applicants must be provided, including the back. This is used to check your identity

2. Recent salary slips

Provide the most recent salary slip. It is important that the document is clearly legible. The document must also show to which account the employer transfers the salary.

3. Appraisal report

This cannot be older than six months. Do not engage just any appraiser. The appraisal report must meet certain requirements. Consult this with the mortgage broker.

4. Employer’s statement

In this document, the employer explains your income and employment situation. This involves standard documents that the employer must fill in as accurately as possible. The employer’s statement may only be signed by an official representative of the employer (such as the HR adviser). If you do not have a permanent contract, you can ask the employer to fill in a declaration of intent.

The figures on the employer’s statement must correspond with those on your salary slip, otherwise the statement will not be approved.

5. Annual statements

This is extra verification of the level of income. Are you employed on a temporary basis? In that case, the bank can also request annual statements from the past three years.

6. Recent bank statements showing the salary payment

This is another extra verification. Obtain a bank statement showing the salary credited to your account. Use the bank statement that shows the most recent salary you received.

7. The (draft) deed of sale, signed by both parties

The bank will also require proof of the actual purchase of a house.

In addition, there are other documents that may be requested depending on the circumstances. Examples of these are:

8. A prospective statement

If you work via a temporary employment agency, the agency may issue a prospective statement. This statement indicates the stability of the income and provides an insight into what you can earn with your education and experience.

9. Overview of debts

If you have debts (such as a private lease contract or a telephone subscription), you may get a lower mortgage. Such debts are registered with the BKR (Credit Registration Office of the Netherlands) and the mortgage lender identifies them by performing a BKR test. Student loan debts are not registered with the BKR. You are responsible for submitting a statement of these debts.

10. Savings account statement

The buyer’s costs (on average about six per cent of the purchase price) must be paid with your own money. You may be able to deposit savings to reduce the mortgage. Banks may require proof of your savings, such as a print out of your savings account.

Start off well prepared!

You can start collecting the documents before you take out the mortgage. This way, the mortgage is completed faster and there is no need to look up documents under time pressure. Please note that some documents have a limited validity period, such as the employer’s statement and the salary slip. Tip: Scan all documents in advance, so you will have them ready when requested by the bank.

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