What Documents are Required to Apply for A Loan in London?

1. What Documents are Required to Apply for A Loan in London? Getting a Loan is one of the most important financial decisions of your life whether it’s personal, business, or home loan. It is the only best way to fulfill your dreams despite having short of funds. A specific loan is granted by banks and other lending institutions to the borrower based on the documents required for a loan. Though it involves one big hassle i.e. documentation but is helpful when you need some cash urgently. Here is the list of documents that a borrower has to submit to the lender for a loan against property, personal loan, and business loan. Proof of Identity To apply for a loan, you may be asked to provide proof of identification along with your loan application. The documents required to prove your identity are as follows: •UK or EU passport •EU or EEA identification card •Non-EU passport •Driving license •UK military ID Proof of Address Applicants are required to submit the proof of address of the present address only. A valid list of documents that can be accepted are: •Driving license •Utility bill •Government-issued letter •Personal bank account or credit card statement •Council tax bill Proof of Personal Bank Account

2. A summary of account activity for a certain period is also necessary to progress your loan application. The bank account types that can be accepted are Personal current account, Personal cash account, and Personal savings account. The statement must contain your Name, Surname, Current Date, Address, and Bank’s letterhead. Your bank statement must: •Show transactions of the last 12 months •Be from a bank account established in the UK. Remember banks and financial institutions only accept scanned copies of original documents as proof. It is also important to know that a loan is approved only when document verification is successful so make sure you must have all documents to get the approval. London Loan Company is also a UK based financial institution that helps to cater to all short term and future wants. Borrowers can individually apply from £25,000 to £5,00,000 with us as per the requirement. Hope you are satisfied with the information. For any additional queries, fill out our contact form. You will be paired with our best financial advisor for free questioning.