• HOW WE HANDLE YOUR APPLICATION

In order to provide you and your customer with the best possible service, we have detailed below what to expect when submitting a mortgage applications to Vida.

Uploading Mandatory Documents - what you need to know

 

Application Stage : All mandatory documentation to be uploaded before the case can be submitted. This is to ensure we have everything we need to process your case as quickly as we can.

Post submission: As soon as all the mandatory documentation has been uploaded as satisfactory, your case will be checked and allocated to an Underwriter for initial assessment. We'll let you know of any issues or if mandatory documents are missing.

Initial assessment: Providing your applications passes the Underwriters initial review, or you tell us otherwise the valuation will be instructed here. Your case Underwriter will contact you directly, should any further information be required.

Additional information: Should any additional information be required, your case will not be passed back to the Underwriter until all the outstanding documents have been received and they have been verified by our Administration team. If there is an issue with any of the documents they will let you know.

Final Approval: Once any outstanding documentation and valuation report has been received as satisfactory the case will be passed to an Underwriter to review for offer.

Please download our tips for submitting an application for full details.

So, what are the mandatory documents I need to upload?

 

For Residential Mortgage Applications the mandatory documents are:

Self Employed applicants

  • SA302 and Tax Overview (dated within the last 12 months)
  • Accountants Reference from a suitable qualified accountant
  • Audited Accounts prepared or certified by a qualified accountant
Employed applicants
  • Latest P60 & 3 months payslips (for all employments where customer holds a 1st & 2nd job) 

For Buy to Let applications, the mandatory documents are:

  • Details of the BTL portfolio (if applicable)
  • Proof of income
  • Expatriates – Proof of ID 

What happens once I've uploaded the mandatory documents?

 

  •  Our admin teams will review all documents when they are received to ensure the underwriter has everything they need to make an informed and robust decision. If needed they will call you to verify the documents.
  •  If the required mandatory documents are not satisfactory, our admin teams will let you know what is needed to enable us to progress the application to our underwriters.
  • As our underwriters will be better informed at the initial underwrite stage, they will call you directly to inform you if and why any additional documents may be required.