Financial Assessment Form

Home / Affordable Housing / Financial Assessment / Financial Assessment Form

Financial Assessment Form

Housing Association

Type of Scheme

Applicant 1

Applicant 2

First Name(s)

Last Name(s)

Date(s) of birth

Number of dependants & age

Do you pay any child care/nursery/maintenance?

Yes No

If so please state how much a month

Current Address

Postcode

Do you currently own any other properties?

Yes No

Best contact number(s)

Nationality

Have you lived in the UK for the last 3 years?

Yes No

Do you have indefinite leave to remain in the UK or permanent UK residency?

Yes No

If you were born outside of the UK, please state how long you have lived in the United Kingdom?

If you do not have permanent residency please provide details of you visa/work permit here

Have you had any credit problems (CCJ`S or defaults) in the last 6 years?

Yes No

Have you had any missed or late payments in the last 12 months?

Yes No

Have you had any payday loans in the past 6 years?

Yes No

Occupation

Employment Status

EMPLOYED APPLICANTS ONLY

Start date with current employer

Permanent contract?

Yes No

If employment with current employer is less than 1 year please provide information on previous employer (Name, start date, end date)

If you are on a fixed / 0 hour contract please give details of the start & end dates

Details of any outstanding probation (if applicable)

Basic Salary before tax per annum

Guaranteed Allowances (please state E.G London Weighting or Car Allowance) per annum

Total (basic & g`teed Allowances) per annum

Overtime / commission per annum

What is your average take home pay per month after deductions?

Do you pay any pension from your monthly pay?

Yes No

If so please state how much

Do you pay any student loan from your monthly pay?

Yes No

If so please state how much

Do you have any other deductions from your monthly pay?

Yes No

If so please state i.e. season ticket loan, child care vouchers, share save

SELF-EMPLOYED APPLICANTS ONLY

Sole Trader or Limited Company?

How many years’ accounts or self-assessed tax returns are available?

Type of business?

Date business established?

Last year`s net profit

Previous year`s net profit

Year before net profit

LIMITED COMPANY ONLY

Director's salary for last year?

Director's salary for previous year?

Dividend income for last year?

Dividend income for previous year?

ALL APPLICANTS

Details of any other additional income

Child Benefit (per annum)

Child Tax Credit (per annum)

Working Tax Credit (per annum)

Maintenance income (by court order or CSA only)

Investment or Private Pension income

2nd Job (please provide full details)

Are you able to provide proof of the above stated additional income?

Yes No

CREDIT / OTHER REGULAR COMMITMENTS

How may credit cards do you have?

Total amount outstanding on all your cards? (Include 0% balance transfer cards in above total)

Do you clear the whole balance each month?

Yes No

Do you have any unsecured loans or hire purchase agreements?

Yes No

What are the monthly payments on each?

How long left to run on each loan?

Car finance / Lease?

Yes No

How long left to run?

Have you ever had a mortgage or loan application refused?

Yes No

SAVINGS / DEPOSIT

PLEASE NOTE: You will need up to £3000-£4000 to cover your legal and mortgage set-up costs. This will be in addition to any deposit that you intend to put towards the purchase.

Please state your own current savings here

If you are in receipt of a monetary 'gift' from a family member please provide details here

Relationship to applicant

Is the 'gift' money held in the UK?

Yes No

If no, what country is the money coming from

Will anyone that is not on the mortgage over the age of 17 reside in the new property with you?

Yes No

DETAILS OF YOUR NEW PROPERTY

(Further information may be available from the housing association)

Address

Postcode

Full purchase price

What % share are you buying and the price of the share

How much deposit do you intend to put down?

Monthly rent (if applicable)

Monthly service charge (if applicable)

Ground rent (if applicable)

Type of property? (House or flat)

Notes/Comments

YOUR MORTGAGE ARANGEMENTS

It is important that you fill this form in to the best of your knowledge as any non-disclosure may negatively affect your assessment.

SRC Mortgage Solutions are recommended independent financial advisers with many of the housing associations throughout London and the South East.

Choosing the right lender for your HomeBuy scheme can be complex due to the many rules and regulations of the housing associations. We are here to help you overcome any obstacles and make the process as stress free as possible.

Please confirm whether you have already taken mortgage advice?

Yes No

If yes, please provide the name of the company or bank that gave you the advice

Are you in receipt of an agreement in principle?

Yes No

Are they arranging your mortgage for you?

Yes No

Would you like to discuss your options with one of our mortgage advisers?

Yes No

Mortgages

Choosing the right mortgage can be a daunting prospect, with so many deals available and so much to consider, it’s difficult to know what to do for the best.

Protection

It is worth remembering that Government support is limited and that your home may be at risk if you do not keep up repayments on your mortgage.

Property Negotiation Service

If you're worried about negotiating or simply don’t have the time then we can help.