A Mortgage Capacity Report or Mortgage Capacity Assessment Letter is a document required in Family Court for Divorce and FDR (financial dispute resolution) proceedings to demonstrate to the court, what level of mortgage you are likely to be successful in obtaining, post-separation.
There are different types of mortgage capacity assessment depending on what stage you are at in your divorce proceedings, with differing levels of detail.
Some mortgage lenders will use 100% of your source of income, other lenders will only use 50% and others may not allow your non-standard income source at all.
Some mortgage lenders will use only your income source/s if there is a minimum of one year of your income being evidence. Other lenders will only allow your income if it can be evidenced for two years.
As the methodologies of mortgage lenders varies, if your income is not correctly configured it can result in an incorrect Mortgage Capacity Mortgage Assessment Letter.
By using a Qualified and Regulated Mortgage Broker for your Mortgage Capacity Report it will mean that your report will be specifically written for you and your circumstances.
