Mortgage Borrowing Capacity Report

Mortgage Borrowing Capacity Report

Going through a divorce is likely to be a difficult and stressful time, and one of the challenges faced by solicitors can be determining how to divide the assets and property held. One of the assets that often needs to be considered is the family residential home, and furthermore working out who will potentially keep it, whether it will be affordable and if in fact raising the requisite mortgage required is even possible.

Without a full understanding of the ability for each party to obtain and afford a mortgage on their own it can be difficult for the solicitors or a court to make a fair and informed decision. This can often lead to unnecessary conflict, financial stress and extended legal disputes.

A Mortgage Borrowing Capacity Report can often be used as the starting point for any discussions about a potential financial settlement and will often be used in family court proceedings if a resolution cannot be achieved.

A Mortgage Borrowing Capacity Report, sometimes referred to as just a Mortgage Capacity Report or a Mortgage Capacity Assessment, can provide a clear and objective assessment regarding the ability to obtain and afford a mortgage post-divorce. The report(s) will take into account income, expenditure, credit history and ongoing debts. This is then often used by a judge to decide how to divide the collective assets and property.

As such, a Mortgage Borrowing Capacity Report can help to ensure that the financial decisions made about the family residential home are fair and based on factual information.

What is a Mortgage Borrowing Capacity Report?

A Mortgage Borrowing Capacity Report, or Mortgage Capacity Assessment, will detail the amount of mortgage you are likely to be eligible for after a divorce or separation. It is a detailed report based on your individual circumstances, produced following comprehensive research across the mortgage market.

What information will you need to provide for a Mortgage Borrowing Capacity Report?

In most circumstances you will need to provide the following information:

What to do if you need a Mortgage Borrowing Capacity Report?

Our experienced advisers will need to arrange a convenient time to collect the basic information from you over the phone so that a bespoke list of any supporting items that are required as part of the process can be created.

Our advisers are experienced in dealing with people going through a divorce or separation and we offer a professional and personalised service.

What are our fees for providing a Mortgage Borrowing Capacity Report?

As every situation is different our fee for providing a report may vary, but our standard charges are:

Please call us on 0800 151 2407 or 0121 308 9114 or click HERE to complete a brief enquiry form so that we can arrange a FREE initial discussion.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.

Your initial consultation is free and you are under no obligation to proceed with a mortgage we recommend. There will be a fee for our mortgage advice which will range from £495 to £1,495. The level of fee will be determined by the amount of work we expect to undertake in arranging your mortgage and we will discuss and agree this with you before you make an application. Please ask for a personalised illustration.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Caboodle Financial Services Ltd, registered in England and Wales at Mere Green House, 46-48 Mere Green Road, Sutton Coldfield, West Midlands B75 5BT (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of PRIMIS Mortgage Network (PRIMIS), a trading name of Advance Mortgage Funding Ltd which is authorised and regulated by the Financial Conduct Authority. PRIMIS is only responsible for the service and quality of advice provided to you in relation to mortgages, protection insurance and general insurance products. Any other product or service offered by Caboodle Financial Services Ltd may not be the responsibility of PRIMIS and may also not be subject to regulation by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let.

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