3. Full financial assessment

As part of the full financial assessment, you will need to provide financial documents and upload them via The Mortgage People’s secure online portal. These include, but aren’t limited to: ID, bank statements, wage slips, any benefits received or loan agreements, as well as a full credit check. These documents are validated as part of your full financial assessment.

Having provided the required information to The Mortgage People and, if you require a mortgage for your share, they can help you find a lender who will provide you with a Mortgage Agreement in Principle, or AIP for short. If you are purchasing your share in cash, The Mortgage People will undertake a similar level of checks to ensure you are buying an affordable share and are able to comfortably meet the ongoing costs such as rent and service charges.

It is at this stage of the assessment where any adverse credit history will be highlighted. To find out if your credit history is likely to affect your application you can review our Shared Ownership Adverse Credit Policy.