Debts
As well as your income and assets, you will be asked to provide information about your debts. Any debt secured against an asset is deducted from the value of that asset.
For example:
A mortgage
This includes a mortgage that has been taken out for somebody else’s benefit.
Personal loans
Only include a personal loan for assets on your assets list e.g. for a car.
Any other loans
This refers to any loan, charge or debt held over a financial or other asset you have already listed.
Credit card debt is not included in the assessment