Mortgage Application Checklist

Documents Required

_{Identification}

One (1) Valid unexpired national photo identification

Proof of address

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

_{Work permit}

Work permit or residency certificate – Temporary residents

_{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
Any official document issued by the local Government indicating income
Overseas residents: USA - two-year tax return, UK - P60 End of year certificate, Canada - Revenue Agency Notice assessments

_{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

_{Credit Approval}

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 assets/liabilities in name of borrower
Proof of loan purpose: Sale or Purchase Agreement, Confirmation of debts to be settled, Estimates and or approvals for Home Improvements, Statement of works or any other document to support loan purpose
Bank references & Professional reference –Temporary Residents
Credit Bureau – if applicable

Additional Credit Approval
Documents (as applicable)

Leasehold lands
- lease rent receipt, Lease agreement showing expiry for ≥ 5 years after mortgage maturity
Mortgage Deed / Certificate of Title / current copy of Land register
Approval of regional corporation permitting subdivision/development
Annual Property tax statement and annual insurance
For Apartment/Townhouse/Condominiums:
- Strata Insurance and evidence of up to date payment of maintenance fees,
Home Inspection / Current appraisal ordered by Scotiabank
Most recent water bill
Evidence of clear title

_{Closing and Disbursement}

Leasehold lands – Lease agreement showing expiry for ≥ 5 years after mortgage maturity
Property Insurance: fire and all perils insurance assigned with coverage of the lesser of the mortgage amount or full replacement value of the structure
Occupancy Certificate (If applicable)
Unfinished Development: Certificate of practical completion (if applicable)