Thinking of applying for a mortgage? Make sure your accounts are up to date first.

We have had an unprecedented surge of client requests for accounts for mortgage applications.

Whilst this is great news, one of the latest stipulations from mortgage advisors is for the most up to date business accounts , even where there is no imminent filing deadline for these accounts.  Previously the latest completed accounts were acceptable.

The latest 2 cases we have dealt with involved the mortgage providers threatening to close the case if the accounts weren’t received within 2 weeks!  As much as we strive to provide our best possible service at all times, turning around company accounts in less than 2 weeks is just not possible with our existing workload.

We are only human and can’t work miracles!

We are also being asked to request SA302 forms from HMRC for clients.  It can take HMRC 2 to 3 weeks to send these out to you.  We can request these on your behalf, but you can also request them here.

Our advice to you is to please please ensure that you have up to date accounts and SA302’s before applying for a mortgage.

If you are using Xero this makes turning around the accounts quickly much more of a reality.

Thank you for reading.  If you think you may be in this position soon, please talk to us.

 

Sharon

sharon@kinderpocock.co.uk