One of the most important steps when applying for a mortgage is to submit the documentation requested by the bank. It is not a trivial process since a mortgage loan can bind the client and the bank for an average period of 20 years, so the future client needs to demonstrate his current and future financial solvency. Let’s take a closer look at what type of documentation is most commonly requested when you want to take out a mortgage loan.
General documentation (regardless of employment status)
- Tax Identification Number (NIF) or, if you are a foreigner, Foreigner Identification Number (NIE) or passport.
- Deposit or earnest money contract, if it has already been signed.
- CIRBE.
- Income tax return for the last year.
- Deeds for each piece of real estate owned.
- Lease agreement if the applicant’s current address is rented, and latest rent receipts. Updated employment history.
- Recent bank statements.
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Documentation required from self-employed workers
- Employment contract, whether defined or indefinite.
- At least the pay slips for the last three months.
- Justification of additional income to that on the payroll, if any.
- Receipts for any loans we currently have contracted, if any.
Documentation required for the self-employed worker
- Annual VAT declaration.
- Quarterly VAT payments for the current year.
- Annual income tax return as well as the split return.
- Latest Social Security payment receipts.
Required documentation for companies
- Corporate tax for the previous year, if any.
- Tax returns for the current year – VAT and split corporate tax.
- Updated balance sheet of the company’s financial situation.