A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Mon/Fri 9am-6pm       Sat/Sun 2pm-6pm
Call for FREE expert advice & service info

What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.

Mortgage Raising Capacity

  • Flatliner
  • Flatliner's Avatar Posted by
  • New Member
  • New Member
11 Oct 21 #517888 by Flatliner
Topic started by Flatliner
A Quick question. I got fired from a good paying during the pandemic. I am over it now but as I have 3 young primary age children under 10 with all the lockdowns over the past year I have not been able to find a job and work. The kids retuned back to school in April and hours were reduced with no after-school care.

Things have now resumed althogh after-school care is still slightly reduced and I am running around like a maniac doing pickups as they all go to differnet shools. I do get anxious about being suddenly called into home school due to classes being sent home or another lockdown which is affecting me securing something as I don't want to say to new employers that I have to leave etc look after my kids.

I have tried looking for a PT WFH reduced hours 4 hours a day where I can accommodate school runs and pick ups as the girl I used to have no longer wants to pick up the kids due to the CV risks etc. It is a nightmare and this single parenting is revealing, now I understand why single parents struggle to sometimes find high paying jobs

My question is I have been asked to enter my mortgage raising capacity as an outcome on my form E. How do I see a mortgage advisor when I have no income. I am not on benefits and live off my savings at the moment? If I manage to get a FT job I would have to wait at least 6 months to qualify for a mortgage consideration.

Has anyone been in a similar position? What do you write?

  • wikivorce team
  • wikivorce team's Avatar
  • Moderator
  • Moderator
Yesterday 07:34 #517909 by wikivorce team
Reply from wikivorce team
If you are just filling out form E the first time around then you can estimate the figure yourself.

Work out your income based on the 4hrs a day that you could do plus the benefits / tax credits / child maintenance.

You mortgage raising capacity would be roughly 4 times that income. However its worth calling a couple of lenders to get an indication from them as they may for example not count child maintenance as income for the capacity calculation.

If you have been asked for a Mortgage Capacity Report in an order after the FDA then you will need to get a report done (Google for one) or at the least get written quotes from a few lenders.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11