Mortgage Capacity Report

Gezmc1

Hello, 

As part of a separation I have been told by my Solicitor i need to obtain something called a mortgage capacity report. Still not entirely sure why this is necessary but apparently this is a common requirement. 
I was surprised to find out the cost of the so called report, as some advisors are coming back in excess of £300. The cheapest i have found so far is for £195 via https://www.ukmortgageadvisors.co.uk/mortgage-capacity-report/ 
Does anyone have any experience of using the above mentioned or know of anywhere I could possibly obtain one at a lower rate?
I was also wondering whether this is something any Mortgage or Financial advisor could process for me?
Any guidance would be greatly appreciated.
Many thanks

Richard1212

No personal knowledge of them , thank goodness. A quick glance on Google ( which I highly recommend as the best place to get all such answers )  shows lowest at £195 at stbartsfinance.co.uk  . As for financial advisers who can process your report, yes there are plenty and all of them ( using google again !) charge a higher fee than £195 because of the work they have to do for you ( eg :  https://moneymortgages.co.uk/services/mortgage-capacity-report/#:~:text=As qualified financial advisers, we,nature of your financial separation  ).

Hope that helps .Good luck

ACG

We charge £199, appreciate its not cheap for something that you cant really use for much especially when all it really is is a glorified affordability calculator (we have had to do some to say they cant get a mortgage, which in some cases in blindingly obvious - but it is still needed by the courts). 

Its because of the time incurred, writing the letter does not take too long most of ours is preformatted bar a paragraph or 2, but doing the research and the affordability checks is where the time goes.

I think £195 is about as low as you will get.

Gezmc1

Richard1212 said:

Google is where I have been looking the company I found was fourth on the list.

Gezmc1

ACG said:

We charge £199, appreciate its not cheap for something that you cant really use for much especially when all it really is is a glorified affordability calculator (we have had to do some to say they cant get a mortgage, which in some cases in blindingly obvious - but it is still needed by the courts). 

Its because of the time incurred, writing the letter does not take too long most of ours is preformatted bar a paragraph or 2, but doing the research and the affordability checks is where the time goes.

I think £195 is about as low as you will get.

Thank you for your reply, that all makes sense. Thought i'd best check in case i was missing something, i'll stick with what I've found then.
Many thanks again