Once you have submitted your accounts HMRC retain on your file a brief summary of the income that you have declared and any tax paid. In the past HMRC automatically sent these out but they now have to be requested. The SA302 will be requested by most lenders for self employed and share holding company directors as evidence of income.
There are a number of lenders who now only require a 10% deposit and one year’s accounts to apply for a mortgage.
It is common now for lenders to request for a SA302 in addition to accounts even if submitted by an accountant as it provides an additional level of confirmation of your income. In reality it is another measure to stop mortgage fraud.
What you will need to request a SA302?
Full current address
Date of Birth
10 digit individual tax code (if possible)
National insurance number
Fax number where to send it too. (request a copy in the post as well)
Request last three tax years
State it is to obtain mortgage as it will usually speed up the process
Flask of tea and biscuits, as it can take some time to get through
CONTACT NUMBER FOR HMRC IS 0845 900 0444
Why use Neil Soundy Financial Services for your mortgage advice.
We are different.
We offer at least twice the choice of mortgages compared to a standard broker.
View the video on our homepage that explains how mortgage advice has changed.
We will give you expert impartial advice on the mortgage market.
Your initial consultation is free with no obligation
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage
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