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PP Guide No.12: Line your Ducks Up

We wrote about this in some detail in our earlier posts essentially telling you that before you build a house you need to start with the foundation and the foundation of find your perfect property is making sure you can afford it and that your financial institutions agree. As discussed before here are some of the items the bank requires for your file and to determine your DSR (debt service ratio)

  • Passport

  • National insurance

  • Job Letter

  • Other source of income (part-time job or business)

  • Debt (print out from all debt sources i.e furniture plus, private lender or another bank)

  • Insurance

You need to have an insurance premium that equals the amount you intend to borrow. Make sure that you have at least four (4) copies of all of these documents, as every bank you apply will need them.

  • Appraisal

After you have decided on the Perfect Property you will also need an appraisal to confirm the value of the home.

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