What financial disclosure is required in property/financial matters?
During financial or property matters both parties will be required to provide full and frank details of their income, assets, savings property, pensions or other relevant details.
Details that need to be provided include:
- A recent valuation of any property which you own or in which you have an interest. You could contact a local Estate Agent and ask for a free ‘market appraisal’ of the property.
- Redemption statements in respect of any mortgages secured against any property which you own or in which you have an interest. Please also provide documentation in respect of any further liabilities secured against these properties other than the mortgage, confirming the present amount owed.
- Statements for the last Twelve months for all Building Society, Bank and National Savings Accounts in which you have an interest (to include PEPSs, TESSAs and ISAs). For joint accounts please confirm the name of the other account holder.
- Documentary evidence (to include the present value) of all endowment policies / insurance policies you own or in which you have an interest, including those which do not have a surrender value.
- Documentation of any National Savings Certificates or National Savings Bonds (including Premium Bonds) which you own or in which you have an interest to include the current value.
- Documentation in respect of any debts, which you have either in your own name or with another person. ‘Debts’ could be for example credit or store cards, bank loans, hire purchase agreements and over drawn bank and building society accounts. This documentation should contain (where appropriate) the date this liability was taken out, the initial amount borrowed, who else is liable for the amount owed (i.e. for joint debts) the present amount owed and the amount you presently pay towards the debt per month.
- The most recent statement from your pension scheme confirming the cash equivalent transfer value of the scheme. If this statement does not include the cash equivalent transfer value of the pension fund, please request this from your pension scheme and provide it to us.
- Documentary evidence of the income you presently receive from whatever source, to include income from employment, benefits, pension, maintenance and dividends from shares. For earned income please provide your last three wage slips and your P60.
- In respect of any compensation claims you are presently pursuing, please provide a letter from the firm dealing with the claim confirming details of all interim and other awards paid to date or to be paid, whether liability has been accepted, the total estimated value of the claim, a breakdown of the damages expected and an estimate as to when these damages will be paid to you.
- Documentary evidence confirming the present value of any other assets you own or in which you have an interest, for example shares, stocks, gilts, monies owed to you, items worth over £500.00 (i.e. jewellery, furniture, cars, caravans), unit trusts, money held by way of trust. If you own or have an interest in a business, please give us your estimate of the current value of your interest and provide copy accounts for the last 2 financial years.