Our Service, Process & Fees Explained
Who instructs us, and when?
We can be instructed by you, or your legal representative, to carry out a Mortgage Capacity Assessment.
Who will the report be for?
This report might be solely for you, or for both parties in a separation/divorce. There may also be multiple scenarios that we need to comment and advise upon.
What will the cost be?
We will confirm the fee for our work upfront so you have peace of mind in knowing the bill won’t be an unexpected one. Our fees start from £349 (no VAT), for a basic report, confirming either one or two parties mortgage capacity - we do not charge more for a dual party report if we are instructed on both at the same time.
This fee can increase if multiple scenarios are required or your situation is complex. Examples of this may be where you require an idea of your capacity based on different levels of income or maintenance or perhaps if you have a complex income structure or a property portfolio to bring into consideration.
What do we do when writing the report?
On receipt of your information and/or documentation which may be proof of income, debts etc or a Form E from family court proceedings, we typically like to have a brief discussion to confirm our understanding of your circumstances, the requirements for your report and this time also allows both you & us to ask any important questions. This is not mandatory and occasionally we are instructed by a solicitor and never speak to the end-party, this is perfectly acceptable.
From there, we will begin work on your report, analysing your borrowing capacity and drafting our report. We research the market, speak with lenders if necessary and draft our report. You are not credit scored as part of the process nor is a mortgage application processed.
When do you pay?
Once complete, the invoice will be issued for payment and the report will be sent on settlement of the invoice. We suggest you discuss the report with your legal representation if applicable, and we are always happy to make any minor amendments if required after you’ve had a chance to read and understand the report.
Any further work or reports would be chargeable at an hourly rate from there.
Should you require a mortgage in future, we would be happy to assist you, as clearly we will have a lot of your information on file and a good understanding of you & your needs, already.
One last thing…
A Family Lawyer we work with states that “the Judicial guidance in the Family Court is that a joint mortgage capacity report obtained at an early stage increases the chance of either an early settlement or of utilising the First Appointment as a Financial Dispute Resolution appointment and as such saving parties potentially thousands of pounds in litigation costs”.
What our clients & partners say…
“My report was produced within a few days and contained exactly what my solicitor had asked for and really made it clear for the court too.”
— Mr F, Newbury, Berkshire.
Get in touch today
Chris Sutton - Partner - Fenton Elliott Solicitors says…
I have been using your services professionally for more than 3 years now and I have nothing but positive things to say about the work you and your team do for my clients.
The predominant work you have done for my family law clients revolves around Mortgage Raising Capacity reports for divorcing couples to aid the early and, hopefully amicable, settlement of their financial negotiations. I pride myself on being able to work creatively for my clients, during a time of great struggle for them personally, financially, and emotionally, and find a way to achieve the best outcome for them as efficiently as possible; and it is a pleasure to work with someone who approaches client care in a similar way.
I have had numerous clients over recent years comment to me how you and your highly skilled team have gone above and beyond to find them the best deals and rates, as well as giving them the most practical advice they need. You will continue to be my first recommendation when it comes to mortgages, and I will continue to sing your praises to clients, colleagues, peers, friends, and family alike.
