Banks and building societies
Signing off documentation to support loans and mortgage applications
Self-employed individuals applying for mortgage applications with banks and building societies will normally have to provide two years' accounts signed off by a qualified accountant or copies of the tax calculations (known as SA302) to support mortgage applications. Some lenders require three years of supporting documentation and some require financial references.
The following banks and building societies will accept signatures of IFA practising members on the accounts of clients seeking loans and mortgage applications.
|Beverley Building Society||Nationwide|
|Buckinghamshire Building Society||Natwest|
|Cahoot||Newcastle Building Society|
|Co-Operative Bank||Norwich and Peterborough Society|
|Coventry Building Society||Penrith Building Society|
Cumberland Building Society
|Progressive Building Society|
|Darlington Building Society||Royal Bank of Scotland|
|Earl Builiding Society||Santander|
|Freedom Lending||Scottish Building Society|
|Godiva Mortgages||Shawbrook Bank|
|Halifax||Skipton Building Society|
|Harpenden Building Society||Stafford Railway Building Society|
|Homesdale Building Society||Stroud and Swindon Building Society|
|Ipswich Building Society||Teachers Building Society|
|ITL Mortgages||Tipton and Coseley Building Society|
|Kensington Mortgage Company Ltd||Together Money|
|Lloyds TSB - Bank Group Mortgages||Virgin Money|
|Loughborough Building Society||West Brom Building Society|
All approved 1 January 2017.
- The list of banks and building societies that will accept IFA credentials has been compiled based on member enquiries. It is not exhaustive.
- We are in communication with a handful of banks and building societies which currently will not accept accounts signed by IFA practising members.
- It is up to the lender (and their underwriter) to decide their policy as to which qualifications they will accept on the accounts.
If you have queries or issues with particular banks and building societies relating to this area, please contact us by emailing the membership team at email@example.com.
Tax Calculation (SA302) to support loan and mortgage applications
From 5 September 2017, HMRC will no longer be able to provide copies of the self-assessment tax calculation (SA302) if the self-assessment return has been filed online.
HMRC has been working with the Council of Mortgage Lenders members to encourage landers and brokers to accept copies of tax calculations (SA 302) and tax year overviews provided by customers, their agents or accountants (self-serve copies).
A list of lenders who will accept self-serve copies can be found in HMRCs website Mortgage Providers and lenders who accept a SA202 tax calculation and tax year overview
HMRC instructions in the July 2015 HMRC Tax Agent Update (issued 48), provides guidance on how clients or the tax agent can print the documents without contacting HMRC for paper copies.
In order to access these online documents, the tax agent (or your client) needs to be registered for HMRC Online Services. Further advice on how to print these documents, through HMRC’s online services or using commercial software is available here
HMRC’s communication of 1 December 2017 to tax agents stated that they may provide paper copies of the tax calculation if the self-assessment return has been filed online in exceptional circumstances. For example, if the mortgage provider is not on the list of lenders who accept self-serve copies.
In this communication, HMRC suggest that if:
- a Lender refuses to accept a self-serve copy, agents should check if they are on the List of Lenders. If they are, go back to the Lender with the list as evidence that they will accept self-serve copies
- agents are having problems printing from their commercial software, they should contact their software provider for assistance
- another third party requires a copy of the tax calculation, please check if they accept a self-serve copy.
Note: it is not a requirement to have:
- a HMRC covering letter with the tax calculation
- SA302 on the calculation printed from commercial software.