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, 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 the income 

• Source of down payment – 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 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
• Proof of Liabilities in the name of the Borrower: Credit Card, Loan or Mortgage statement
• Proof of loan purpose - Agreement of Sale or Agreement of Purchase

• Current Appraisal ordered by Scotiabank, documents needed:
  

             - Mortgage Deed/Certificate of Title

             - Completion for properties < 4 years old (if applicable)

• Most recent property tax receipt
• 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)
• 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