Mortgage application checklist 

One (1) valid unexpired national photo identification

One (1) valid proof of address (deed, recent utility bill, tax assessment or financial institution/ bank statement)

Salaried Individuals: Salaried or Fixed Contract or where commission < 50% total income any two of the following:

• Recent letter of employment
• Current contract executed between the employer and employee
• Pay slip(s) showing the most recent full monthly income (if pay slip shows a deduction at source indicating loan payment, letter of indebtedness is required) 
• Bank statements showing direct payroll deposits for the 2 most recent months - including Scotiabank screen print
• Most recent income tax return
  
• Any official document issued by the local Government indicating income

Commissioned Income: Letter of employment and last 6 months pay slips

Self Employed Individuals:

Business Documentation – one of the following:

• Valid Business registration/ License, and most recent Annual Return (where applicable), or
• Financial statements for the last 2 years prepared and signed off by an Accountant on the Bank-Approved panel, or in good standing with the relevant supervisory board (ICATT registered / practicing member) , or
• Most recent account statement (Banker’s reference) for an active Scotiabank business or commercial bank account or other financial institution, or
• Certification of incorporation/ Articles of Association

Income Evidence documents – one of the following:

• Income Tax Returns for the last 2 years, or 
• Audited Financial Statements for the last 2 years, or
• Financial Statements for the last 2 years prepared and signed off by an Accountant on the Bank-Approved Panel, or in good standing with the relevant supervisory board, and six (6) months bank statements, or
• Any official document issued by the local Government indicating income

• Source of downpayment – account statement or copy of cheque or evidence that monies are deposited in BNS account, letter signed by donor & borrower (if a gift)
• Proof of liabilities in the name of the Borrower: Credit Card, Loan or Mortgage statement
• Proof of loan purpose - Agreement of Sales or Agreement of Purchase, confirmation of debts to be settled, estimates and/ or approvals for home improvements, statement of works for repairs, any other document to support loan purpose

• Current Appraisal ordered by Scotiabank; documents needed:
  

                - Mortgage Deed/Certificate of Title, Land Register,

                - Completion for properties < 4 years old (if applicable) for properties in an incomplete development.

                - Cadastral sheet (required for financing of land purchases)

• Most recent property tax receipt
• Takeover Certificate (if applicable)
• Maintenance fee statement (as applicable where there is a Homeowners’ Association - Townhouses, Condominiums or Apartments)

• For new property (less than 3 months old):
  • Official receipt dated 2024 from the Valuations Department along with proof of payment of Land Taxes (as of 2009).  OR.
  • Assessment documentation dated 2024 (including the Property Identification Number) along with proof of payment of Land Tax (as of 2009).
    • If the above documents are not available, the HDC or the Private Developer are to provide a standard indemnity agreement for Land and Building Taxes paid as of 2009.
• For existing property (less than 3 months old):
  • Proof of up-to-date property taxes along with proof of payment Land and Building Taxes paid as of 2009 OR.
  • An official receipt dated 2024 from the Valuations Department along with proof of payment of Land and Building Taxes paid as of 2009 OR.
  • Assessment documentation dated 2024 (including the Property Identification Number) along with proof of payment of Land and Building Taxes paid as of 2009.
    • For land-only or lot purchases, property taxes aren’t currently assessed, but Land and Building taxes up to 2009 must still be paid and receipt provided by customers.
• Proof of assets in the name of the Borrower: Statements showing investments or bank statements, copy of land title or motor vehicle title, Pension Statements, Last valuation of property (or UTD Homeowners Insurance policy/ UTD Motor vehicle insurance policy to show the insured amount) CLOSING AN DIS
• Document from Board of Inland Revenue showing customer’s BIR number, or a letter from the BIR indicating that no BIR number exists, and customers are not assessed for taxes (e.g. housewives, etc.)
• Evidence of home insurance and assignment to the Bank
• Well and sceptic certificates (if applicable)
• Up-to-date water authority bill/ clearance certificate
• Incomplete Development: Certificate of practical completion (if applicable), Takeover Certificate (if applicable)
• Up to date lease rent/ maintenance fee receipt (if applicable)
• Lease land: Lease agreement showing expiry for > 5 years after Mortgage maturity (if applicable)
• Copy of share certificate/ Article of Association of the administrative company (if applicable)
• Updated credit bureau score (if applicable)
• If seller has a Mortgage, you should request to obtain a release or release in Escrow with settlement letter