Mortgage Capacity Reports
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We are fully independent which means we have access to the whole of the UK lender market. We also have an in house service team who will see your remortgaging application through to completion and provide you with updates and support along the way.
What is a Mortgage Capacity Report?
Used for divorce proceedings, a Mortgage Capacity Report helps to determine a spouse’s ability to afford a mortgage following a divorce. This can be crucial when deciding how to split assets and property.
The report considers the spouse’s income, outgoings, credit history and debts and can be used to ensure that the split of assets and property are fair and affordable. This is especially important if you are considering buying your partner out of the mortgage and taking full ownership of a property.
What types of Mortgage Capacity Report do we offer?
We offer two types of Mortgage Capacity Report:
1) Standard Mortgage Capacity Report (£199) – This is a basic report confirming if the spouse is able or unable to afford a mortgage and why.
2) Full Mortgage Capacity Assessment (£499) – This is an Expert report addressed to the Family Court in accordance with the Family Procedure Rules 2010 and Practice Directions 25B, 25D and 25E, confirming the spouse’s likely maximum borrowing with different circumstances and example mortgage Illustrations.
Who completes the Mortgage Capacity Report?
The assessments and report are completed by a fully CeMap qualified Mortgage adviser who will undertake a Fact Find meeting to ascertain all relevant information required for the assessment and will base their assessment on the Whole Mortgage Market.
Although the report itself is not regulated by the FCA, all our advisers are fully qualified and registered with the FCA for Mortgage Advice.