Do You Need A Mortgage Capacity Report?

If you are divorcing then you may have been asked by your solicitor, or the courts to obtain a Statement of your Mortgage capacity. 

As fully qualified Expert Mortgage Advisors, we can provide you with a detailed report which can be used in court to prove your mortgage capacity.

Frequently Asked Questions

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Why Should I Get a Mortgage Capacity Report

Mortgage Capacity Reports can be extremely useful in family Court proceedings, as they can often have a direct impact on any settlement ordered.

When solicitors are uncertain about what the client/s' situation is likely to be then our research can determine what the most likely mortgage borrowing will be based upon a number of different scenarios. This is especially appropriate when finances are being disputed.

Examples include agreements about how debts are to be split, maintenance, or the divorcing parties are finding it difficult to decide whether to pursue other matrimonial assets. Understanding how these decisions could affect mortgage capacity can help these negotiations. Ensuring the client is fully aware of how financial decisions made now may affect their ability to obtain a mortgage in the future should be vital to all divorce negotiations.

The mortgage capacity report also gives your financial settlement greater credability when dealing with your solicitor and/or court staff including the judge presiding over your divorce.

 

What's in the Mortgage Capacity Report

The mortgage capacity report is a detailed investigation into what level of mortgage you are likely to be successful in obtaining. It will also compare this level of maximum borrowing with the amount of mortgage you can actually afford to maintain. The assessment is more reliable than a visit to your bank or by using one of the many online mortgage capacity calculators available. 

The mortgage capacity report does not recommend a specific lender and product, however, it will provide example illustrations comparing current Fixed interest rates against Variable interest rates, the monthly Repayments and will demonstrate all other likely mortgage costs. You can request a sample mortgage capacity report by contacting us here

 

What's in the Mortgage Capacity Report

The mortgage capacity report is a detailed investigation into what level of mortgage you are likely to be successful in obtaining. It will also compare this level of maximum borrowing with the amount of mortgage you can actually afford to maintain. The assessment is more reliable than a visit to your bank or by using one of the many online mortgage capacity calculators available. 

The mortgage capacity report does not recommend a specific lender and product, however, it will provide example illustrations comparing current Fixed interest rates against Variable interest rates, the monthly Repayments and will demonstrate all other likely mortgage costs. You can request a sample mortgage capacity report by contacting us here

What Information do you need

In order to produce your mortgage capacity assessment we will require the completion of our Fact Find. Your 'Form E' will contain much of your financial information needed so please feel free to forward it to us referring to it in the Fact Find where relevant. 

We can either email you a copy of the factfind or if you prefer we can call you to take down your details over the phone.

 

How Long does it take to get a report?

A Report usually  takes around 2-3 working days due to the amount of work and research involved.

However, for an additional fee of £50 this can be expedited to 24 hours

 

What are your Qualifications

Darren Shepherd

Mortgage & Protection Advisor Certs CII (MP & ER)

Darren has 30 years experience in the Financial Services industry and has been arranging mortgages for over 27 of those.

 

He holds the Certificates in both Mortgage Advice and Equity Release, as well as being a member of the Society of Mortgage Professionals Certs CII (MP & ER).

Darren has a wealth of experience in advising clients and placing difficult mortgages, complex income situations and guiding clients, whether they are First time buyers or seasoned property investors.

Due to his experience and qualifications  he also helps clients requiring Mortgage Capacity Assessment Reports for Divorce or financial Mediation.

 

What are the costs for the Mortgage Capacity Assessment Report?

The cost for our standard mortgage capacity assessment is £199.00. If you require your capacity to mortgage based on other financial situation, or need the report within 24 hours an additional £50.00 will be charged. Please contact Darren Shepherd, before making any payment so she can ensure that you are paying the correct amount for any additional scenarios.  

 

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