Mortgage application checklist

1. One (1) Valid national photo identification            
2. One (1) valid proof of address (deed, recent utility bill, tax assessment or financial institution/bank statement) Utility Bill, Other Bank’s Statement received within the last 3 months, Tenancy Agreement with last 3 receipts, Credit Report or Hire Purchase Agreement.
3. TIN Certificate  

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 BNS screen print.
• Most recent income tax return OR
• 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, or
  • Most recent account statement 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 the income.  

1. Source of downpayment – account statement, letter signed by donor& borrower if a gift
2. 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
3. Proof of Liabilities in the name of the Borrower: Credit card, Loan or Mortgage statement
4.  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, and 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/ Neighbourhood Democratic Council (NDC) or Mayor and City Council (MCC) confirmation of up-to-date rates and taxes
• Take over certificate (if applicable)
• Maintenance fee statement (as applicable where there is a Homeowners’ Association- Townhouses, Condominiums or Apartments

• 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