Mortgage Capacity Reports – Your Expert Solution at I.I. Financial Services
Our Mortgage Capacity Experts consist of well-qualified advisors who bring a wealth of experience to the field of mortgage consultation. We do not have exclusive ties to any single lender; instead, we maintain access to a broad spectrum of lenders in the market, encompassing both mainstream and specialised options. All of our advisors maintain current and pertinent qualifications, and we operate under the full regulatory oversight of the FCA (Financial Conduct Authority).Mortgage Capacity Assessment – Ensuring the Right Divorce Settlement
When it comes to finalising a divorce settlement, there is no scope for error. Getting it right from the beginning is crucial to make informed decisions, save time, and money. At our firm, we offer Mortgage Capacity Assessments that provide precise and reliable results to guide your settlement negotiations. Here's how it can benefit you:
- Helps the Court: Our report assists judges in making financial decisions during the divorce proceedings.
- Useful for All Parties: The report is not just for the court – your ex-partner and their legal team can use it too.
- Professional Standards: The report demonstrates mortgage capacity professionally and meets all legal requirements.
- Custom Assessments: Each assessment is tailored to your specific circumstances and financial factors.
- Financial Planning: You can accurately plan your financial future based on the report's results.
- Resolve Disputes: The report can help settle disputes efficiently and effectively, especially during divorces.
- Flexible Usage: The report works well both in and out of court, including mediation.
What is Mortgage Capacity Report
At I.I. Financial Services, we understand the importance of a credible, realistic, and accurate mortgage borrowing assessment.
Credibility
Our Mortgage Capacity Report can improve the credibility of your financial settlement. It is a valuable tool in legal proceedings and can be presented to solicitors, court personnel, and judges in family court. It can help both parties and their legal representatives come to a fair divorce settlement. The report is widely recognised as "Best Practice" in demonstrating mortgage capacity from a legal standpoint.
Clarity
Our report does not recommend any specific lenders or products, but it does offer helpful examples. These examples include current market interest rates, monthly repayments, and a detailed breakdown of expected mortgage costs. Every mortgage capacity assessment is customised to accurately reflect your unique financial circumstances, making it an invaluable tool for assessing your mortgage borrowing capabilities.
Precision
We offer assessments for both you and your partner's mortgage capacity in the context of divorce. This results in two distinct reports that comprehensively detail both parties' mortgage capacities. Independent mortgage capacity reports often provide a more precise and unbiased representation than relying solely on a single lender, whose terms of borrowing may lack clarity due to their product-specific focus. We can also provide details of your mortgage capacity under various financial scenarios, offering flexibility to meet your needs.
Reliability
Our assessment is a more reliable source of information compared to visiting your bank or using online mortgage capacity calculators. While engaging directly with mortgage providers can provide lender-specific affordability details, it's important to understand that a mortgage isn't secured until a full mortgage offer is extended. As independent mortgage brokers, we can provide valuable insights into the likelihood of securing a full mortgage offer and offer guidance on which lenders are best suited to your unique requirements.
Legal Mandate
In divorce cases, the court usually requires the parties involved to provide property sales particulars and evidence of their mortgage capacity. This evidence should be submitted in the form of a broker's certificate, outlining the maximum mortgage available, the income and outgoings used in the calculations, and the monthly repayments based on the stated mortgage capacity. Furthermore, the court allows each party to file and serve mortgage capacity assessments for the other party if disputes arise. It's essential to recognise that mortgage offers from multiple lenders can differ significantly, as each lender considers various factors. Therefore, it's crucial to approach the mortgage borrowing process with a well-rounded perspective.