Meeting with Bank for first time

Jovetic

Going to visit a few banks next weeks regarding a mortgage application. First time buyer. Do I need to wear a suit or what is the protocol? Is there anything I should bring or be aware of before heading in. I have no clue whatsoever re mortgages & house buying so any tips at all would be greatly appreciated

johnnyskeleton

Jovetic wrote: »

Going to visit a few banks next weeks regarding a mortgage application. First time buyer. Do I need to wear a suit or what is the protocol? Is there anything I should bring or be aware of before heading in. I have no clue whatsoever re mortgages & house buying so any tips at all would be greatly appreciated

In an ideal world it wouldn't matter how you dress but bank staff can be awful snooty so wearing someone respectable can't hurt. But ultimately the people in the branch simply fill in the form and send it on to central processing so it doesn't really make much of a difference.

Bring your wage slips for 6 months or 2/3 years of audited accounts if self employed, proof of savings and saving history, details of the house you want to buy, an official photo idea passport, a bill with your current address, details of your marital status, current account statements and any other financial documents that you have to hand.

Henry Ford III

A suit is certainly not required, although pants probably are

p.s. I'd wear a good shirt, trousers, and a sports jacket.

phormium

As a former banker (hiss, boo) I can honestly say I never took a bit of notice what anyone wore when them came looking for a mortgage, normal everyday clothes will do. Only guy I do remember was working on a building site and regularly trailed muck, cement etc through my office, it had to be hoovered every time after his appointments, he seemed totally oblivious to the mess he was making.

xper

johnnyskeleton wrote: »

In an ideal world it wouldn't matter how you dress but bank staff can be awful snooty so wearing someone respectable can't hurt. ...

Depends how heavy they are really.


OP, it's not a job interview, it's just business. As said above, the decision on your mortgage application will ultimately be made by people you will never meet based on the forms and documentation you provide. Also be aware that the staff you do meet with are essentially sales reps for the banks mortgage products even if they have words like "advisor" in their job title. It doesn't mean they are out to get you but just be aware that what is exactly best for them may not match exactly what is best for you. Take your time to familiarise yourself with the whole deal on offer. Of course, if you just looking for approval in principle at this stage, you aren't committing to anything yet.

jmayo

phormium wrote: »

As a former banker (hiss, boo) I can honestly say I never took a bit of notice what anyone wore when them came looking for a mortgage, normal everyday clothes will do. Only guy I do remember was working on a building site and regularly trailed muck, cement etc through my office, it had to be hoovered every time after his appointments, he seemed totally oblivious to the mess he was making.

Much the same could be said about your ex profession. :rolleyes:

phormium

Very true! unfortunately most of the mess was being made on high, I only wish I had input into the decisions being made, was tired of saying it was all going to go horribly wrong, no one wanted to hear that.

Woodville56

OP, I think it's also useful to have a bit of groundwork done as regards what your expectations are in relation to your application such as , have you worked out what mortgage amount you expect to get approval for, based on your income and outgoings/ liabilities ? Have you a house in mind ? Have you researched the house prices in the area where you wish to buy ? They may ask you questions along these lines.
In short, what I'm saying is, go in to the mortgage interview well prepared, have your research done, be realistic in your expectations, expect to be quizzed on your outgoings & your capacity to repay , the type of property you propose to buy and current prices in the area for such properties.
The dress code is'nt that important , smart casual was our's, as long as you're neat and groomed ok, should be fine.
While the decision on your application will ultimately be made centrally, I do feel that being well prepared in terms of having thought through your application details thoroughly and having supporting documentation and answers for questions that may arise at interview,as outlined above, will also help create a businesslike impression.
Good luck and keep us up to speed as to how you get on !

cookiecakes

For our first appointment, they wanted to know the full ins and outs of how much we were spending every month on everything car, entertainment, going out for dinner etc. so have a rough idea in your head of those. He also looked quite thoroughly at payslips and our most recent current account statements. Before he looked at them, he asked us was there anything in it that he needed to know e.g. unauthorized overdrafts, betting transactions etc. He then went through a full stress test to make sure we could afford a mortgage while we sat there nervously. There were a lot of quiet moments while he inputted numbers into his computer with him just asking questions when he came across something he wasn't sure of. It was heavy going but worth it in the end!

Trish56

Bring 3 recent payslips, P60 for 2013, copy of passport/drivers licence, 6 months savings, current and credit card statements (if these are with the bank you are applying to no need as they will have them). Also if you have short term borrowing with credit union or any other lender bring a 12 month statement. Mortgage advisor should be able to advice you how much you qualify for and then you can go ahead looking for a house.
Best of luck

Jovetic wrote: »

Going to visit a few banks next weeks regarding a mortgage application. First time buyer. Do I need to wear a suit or what is the protocol? Is there anything I should bring or be aware of before heading in. I have no clue whatsoever re mortgages & house buying so any tips at all would be greatly appreciated