Mortgage Capacity Report
Call us on 01787 379 905 if you would like to have an informal, no-obligation chat about your Mortgage Capacity Report requirements.
Mortgage Capacity Report
Who needs a Mortgage Capacity Report?
People who are getting divorced or separated, and negotiating a financial settlement. It looks at your situation and takes into account child custody, maintenance payments, working arrangements, and so on.
In most cases, the court has requested a Capacity Report to decide on how assets will be split. It’s a useful document to have to give both parties peace of mind.
What is a Mortgage Capacity Report used for?
The mortgage capacity report is used to establish your future borrowing potential – what mortgage you could get, and how much for, after your divorce or separation.
It also considers the amount you could afford to pay back each month as well as the amount you could afford to borrow.
The mortgage capacity report ensures that your financial settlement protects your future.
What’s the difference between a Mortgage Capacity Report, a Mortgage Capacity Assessment and a Mortgage Capacity Assessment Letter?
Nothing!! Different titles for in effect the same document.
Can I do it myself?
The mortgage capacity report needs to be completed by a competent and credible party. You need to have the correct qualifications and registration for the courts to accept the document. Here at Trust Financial Solutions, we have the experience, skills and credibility that you need.
Can I just use an online mortgage calculator to work it out?
Unfortunately, not. The calculators are great to use as an indicator but are not recognised by the courts. They are also only as good as the information you put in. They won’t take account of bonus payments, dividends, investments or childcare payments.
Every lender will have slightly different requirements. Our Mortgage Capacity Reports will review the market, and give you a range of what you may be able to afford to borrow, and pay, based on your exact circumstances.
What is involved?
This will depend on your circumstances. It is a complex financial review of your savings and investments, your debts, your earning potential and your childcare situation.
We will produce a financial assessment, and test the market to see what lenders would be prepared to give you a mortgage, and for how much.
What information will I need to provide?
We will lead you through the whole process. The information will vary depending on your situation but to give you an idea the following information will be needed:
- Mortgage Details
- Property Value
- Pension Details
- Investments Income
- Credit Report
- Bank Statements
- Proof of ID (passport/driving licence)
- Employment or Self Employment Income
Don’t worry if some of that sounds daunting – we can help direct you to find the information that is needed.
Who receives the Mortgage Capacity Report?
We will provide the report to you only. It is then your decision who you share that with – whether for personal use, to discuss with your solicitor or your spouse/partner.
What next?
Give us a call, or use the contact form.
We will arrange a convenient time to have an initial chat to establish your circumstances and clarify what information you need to have to hand.
Why use Trust Financial Solutions?
With a proven track record over many years, we offer an expert and personalised service. Our priority is to look at each client as an individual, and we pride ourselves on listening to our clients.
We understand how stressful this time can be, and provide a jargon-free, friendly service.
Our mortgage capacity reports are credible, informative and detailed, giving you the information you need.
Anthea, our lead on Mortgage Capacity Reports, has been through a divorce herself and understands the need for transparent financial security.
Different types of Mortgage Capacity Assessment that we offer
We understand that not every situation is the same. To help provide a Mortgage Capacity Report that suits your needs, there are a number of different options available:
Capacity Assessment with No Mortgage – £199.00
This is for those who are not in a position to obtain mortgage lending at this stage.
Standard Mortgage Capacity Report – £399.00
This is for one person’s situation and one scenario based on the information you give us.
Joint Mortgage Capacity Assessment – £699.00
Based on our standard report but for both parties within the divorce or separation.
We understand that sometimes a standard approach doesn’t fit everyone’s circumstances. We treat all of our customers as individuals and can offer bespoke assessments to suit your needs.
Mortgage Capacity Report with Additional Scenarios–
Standard Mortgage Capacity Report – £499.00
This is for one person’s situation and up to four scenarios based on the information you give us.
Joint Mortgage Capacity Assessment – £799.00
Based on our standard joint report but for both parties within the divorce or separation, with up to four scenarios.
Fast turnaround (3 days – subject to conditions) –
An additional £75.00 for the report.
Mortgage Capacity Reports do not constitute regulated advice and therefore may not be covered by the Financial Ombudsman Service.
PRIMIS Mortgage Network are not responsible for this service.
Let us take away the pain…
We provide our clients with truly expert mortgage capacity report services. Our staff members are trained to provide the customer service levels you would expect from professional advisers. Take advantage of our no-jargon approach and contact us today to discuss your mortgage (and insurance) requirements.
Discliamer Note:
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
We will charge a broker fee of between £399 and £999, payable on application. The amount we will charge is dependent on the amount of research and administration that is required.
Trust Financial Solutions is a trading name of Trust Mortgage Solutions Ltd who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Limited. First Complete Limited is authorised and regulated by the Financial Conduct Authority. Most Buy-to-Let mortgages are not regulated by the Financial Conduct Authority.
The guidance contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.