Everystep financial are pleased to be able to offer Mortgage Capacity Assessments and reports.
What is a Mortgage Capacity Assessment?
A mortgage capacity assessment and thereafter written report is commonly used during separation or divorce. The report is often requested by the courts when determining the split of financial assets. It also gives you clarity on how your mortgage borrowing will look post separation based on the different ways the court may suggest the assets are split.
Who carries out the assessment and writes the report?
The assessment and written report will be carried out by a fully qualified CAS mortgage adviser from Everystep Financial.
What to expect during the meeting?
The meeting can be over the phone, via Zoom/Teams or face to face (location dependent). The review will take approximately one hour whereby the adviser will take down all of your personal and financial information alongside gaining an understanding of the courts requirements in terms of the different ways the assets may be split alongside future incomes i.e. child maintenance being paid or received, childcare costs and adapted working situations.
The Report
The report itself will be written on company headed paper and signed off by the acting adviser. The report can provide an array of different scenarios to accommodate the courts requirements but can include the following:
- Child Custody
- Maintenance Payments
- Benefit Payments
- Child Care Costs
- Working Arrangements
- Assessment Of Credit Files
We are happy to liaise with your solicitor on the finer points as appreciate every clients situation is different and can change quickly.
Cost Of Our Services
We charge £499 for the report which includes as many scenarios as required. This also includes the fee for arranging a future mortgage when the time is right. Once the fee is paid you will not be charged any further mortgage broker/admin fees when using the firm in future for mortgage purposes.
The fee also includes a financial review in regards to having adequate protection in place and Will writing advice.
The draft report is sent out with the invoice. When the invoice is paid the final report is released by email and/or post and signed by the adviser.
The Living Will, also know as the Advance Directive, is a document that is beneficial in the event that you become terminally ill and feel that you do not want your life artificially prolonged, giving you ”legal say” to have medication stopped or a life support machine switched off. This provides peace of mind for your family, as they would not have to make such a decision at a very emotional time. If you make an advance decision to refuse treatment and then later make a health and welfare Lasting Power of Attorney which gives someone authority to give or refuse consent to the same kinds of treatment, your advance decision will become invalid.
Disadvantages of Advanced Directive – Can be challenged by the loved ones and doctors in case of “terminal illness” and could be overturned.
People of all ages die or lose mental capacity every day. Whatever your age, if you have assets such as a house, savings, or a business, and you also have children or other people who need looking after, good estate planning is recommended, and consideration should be given to writing a will, organising Lasting Powers of Attorney and even funeral planning to save your family the worry and expense at what will be a difficult time.
People of all ages die or lose mental capacity every day. Whatever your age, if you have assets such as a house, savings, or a business, and you also have children or other people who need looking after, good estate planning is recommended, and consideration should be given to writing a will, organising Lasting Powers of Attorney and even funeral planning to save your family the worry and expense at what will be a difficult time.
People of all ages die or lose mental capacity every day. Whatever your age, if you have assets such as a house, savings, or a business, and you also have children or other people who need looking after, good estate planning is recommended, and consideration should be given to writing a will, organising Lasting Powers of Attorney and even funeral planning to save your family the worry and expense at what will be a difficult time.
With the planning in place to realise your goals and dreams, thought is needed to protect those you’re responsible for should the worst happen. Our expert advisers can provide solutions to protect you and your family, your home and your income.
With the planning in place to realise your goals and dreams, thought is needed to protect those you’re responsible for should the worst happen. Our expert advisers can provide solutions to protect you and your family, your home and your income.
With the planning in place to realise your goals and dreams, thought is needed to protect those you’re responsible for should the worst happen. Our expert advisers can provide solutions to protect you and your family, your home and your income.
With the planning in place to realise your goals and dreams, thought is needed to protect those you’re responsible for should the worst happen. Our expert advisers can provide solutions to protect you and your family, your home and your income.
Our expert advisers have access to the whole market and are ready to assist with a range of Bridging solutions or short term funding, Commercial and Asset finance.
