Every case is different and this list is not exhaustive. Don't panic if you see things here you don't fully understand, or don't feel like you comply with. Just get in contact and we will do what we can to help.
UK BANK ACCOUNT
This doesn't have to be the account you are paid into, but you will need statements as proof of address.
You will be asked to provide three months bank statements for any relevant accounts. On top of your UK account, this will include the account you are paid into, and any savings accounts containing funds you intend to use in the purchase. Some offshore or international banks require you to apply for these, so it's worth doing this sooner rather than later.
UK CORRESPONDENCE ADDRESS
This is necessary for identity verification and anti money laundering regulations. It will need to match up with your bank statements.
UK TAX COMPLIANT
Lenders may want to see your tax returns and tax summary also known as an SA302. If you use a tax advisor they will have easy access to these forms. If you're not currently tax compliant, please contact us or see the Tax and Banking section.
Its extremely useful to be registered on the electoral role in the UK. Many brokers and lenders use this as a starting point when checking your identity. This is not a make or break but will definitely help the process.
MINIMUM £25,000pa SALARY
If you are paid in Euros or Dollars then this will be converted at the current exchange rate. Some lenders will only recognise 80% of your salary from foreign currency, but this varies depending on the institution.
PROOF OF FUNDS
It's necessary to be able to prove you have the amount required to cover the deposit, before estate agents or lenders will consider you. This will require your most recent bank statements. If your funds are split over different accounts, statements from each will be required. Its a good idea to consolidate funds where possible.
You must be able to provide a copy of your passport and ideally a photo driving license, as well as 3 months bank statements as previously mentioned.
If available, a verified copy of your passport is extremely useful. This may be something you could do during your leave or yard time. It merely requires a registered person to stamp a copy of your passport to verify it is yours. This copy can then be kept and used indefinitely.
You will need to know your National Insurance number and ideally have a copy of the card.
Some lenders will like to see a permanent employment contract from your yacht.