Mortgage Capacity Assessments

A Mortgage Capacity Statement of Borrowing or Mortgage Capacity Assessment is a document more frequently used by Solicitors practicing Family Law. This report contains the likely level of borrowing that an individual client would be able to achieve once divorced.

Since the Credit Crunch mortgage lenders have changed the way in which they determine an applicant’s level of borrowing. It is no longer safe to assume that 3 x your salary is a good indication of what a lender may offer. Lenders now assess each application on its own merits and affordability against range of constantly changing lending criteria.

The mortgage capacity assessment needs to be credible, realistic and accurate and will help you in many ways:

It can be used by the Court to help the Judge make a decision on finances
It can be used by the other party (ex-partner and/or their solicitors)
It can be considered “Best Practice” in the way in which you demonstrate
mortgage capacity

We work off your Form E to avoid duplication of work
Each mortgage capacity assessment is different to reflect your client’s individuality
It helps your client plan financially for after divorce

As Independent Financial Advisers and Mortgage Brokers we can provide you with a Mortgage Capacity Statement of Borrowing for your clients. They cost £85.00 each report or you can pre-buy a group of 10 for £750.00. You can see an example of what they look like here.

Download sample report

Call us today and speak to our expert, Natasha Phillips, to discuss your cases today.

Residential Remortgage
Residential Home Mover Mortgage
Residential First Time Buyer Mortgage
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Equity Release

Mortgage Capacity Assessment

Our addresses:

The Techno Centre,
Puma Way, Coventry, CV1 2TT

Office Hours:

Monday to Friday 9am to 6.30pm

Communications:

Tel – 0845 0179 578
Fax – 0845 0179 579
Email – office@simpsonfs.co.uk