Mortgage Capacity Assessments – individuals unable to obtain mortgage lending
- 23 March 2017
In recent weeks I have noticed a significant increase in the number of enquiries for Mortgage Capacity Assessments by individuals who are in no position to obtain mortgage lending. Whilst many of these individuals were already aware of their situation and were simply carrying out an exercise to pacify Court proceedings, it did come as a surprise for some.
Could this be the end of high loan to value mortgage lending?
- 19 October 2016
When calculating mortgage capacity for potential mortgage borrowers, those with low deposits (usually 5%) have, in the past, had very few options where mortgages were concerned. Following the financial crisis in 2008 few mortgage lenders would consider such high Loan to Value mortgages (95% loan with a 5% deposit) and for those who would consider this type of lending and in order to compensate for the increased risk to the lender, higher Interest Rates were charged.
Changes in Stamp Duty Land Tax
- 06 April 2016
The world of Mortgage Capacity Assessments is always changing and this month is no exception – Changes to Stamp Duty Land Tax came into effect on 1st April 2016 which will affect those purchasing Buy to Let properties and second homes. The new rates of SDLT for these purchases are as follows:
What effect will rising interest rates have on those going through divorce?
- 10 November 2015
Many of us, not all of course, have enjoyed a comfortable lifestyle over the last 5 years. For those with high Fixed Rate mortgages ending in this period will have switched to a low variable rate and benefitted from significantly lower mortgage payments.
Case study: The effects of the weekly commute to work
- 16 September 2015
Mortgage Capacity Assessments can be used to explore a range of financial scenarios and provide an accurate, realistic and educated outlook of future mortgage capacity. There are many different ways in which changes to financial circumstances can affect an individual’s ability to obtain a mortgage.
How divorce really affects mortgage capacity
- 15 April 2015
If you are going through divorce and questions affecting your future housing and mortgage needs are being discussed it is likely your legal representative will ask you to find out your mortgage capacity.
Negotiate the right divorce settlement
- 26 February 2015
A friend of mine who is currently going through a divorce recently came to me with a problem – she had done everything right during her divorce so far; she had sought advice from a reputable Family Solicitor and agreed that the most amicable course of action would be to go through the process of mediation.
Case study: how maintenance payments affects mortgage capacity
- 09 December 2014
I was contacted recently by a couple currently going through mediation in an attempt to amicably finalise the financial details of their divorce.
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