What is a Mortgage Capacity Report and how can we help?
Our Mortgage Capacity Report (MCR) service provides a summary of borrowing capacity for your client, based on a review of the mortgage market and the individual’s circumstances.
The primary purpose of a mortgage capacity report in divorce proceedings is to provide clarity and transparency regarding each spouse’s ability to secure a mortgaged home and manage mortgage related financial responsibilities post-divorce or separation. This information is often required and forms a valuable document in negotiating property division, spousal support, and other financial aspects of the divorce settlement. If negotiations fail, the report can serve as a reliable reference in court proceedings.
The MCR report is prepared and reviewed by James Lewis & Wendy Hicks, Independent Mortgage Advisers, who work within Purposeful Group, the parent company of FMB. They both hold CeMAP Diploma Qualifications and have a combined 25 years’ experience working in the Independent Mortgage market so you can be assured that your clients will receive a good service.
The report can be tailored to joint or single mortgage capacity, or indeed to show that there is no mortgage capacity.
Please get in touch with us if you would like more information.