Underwriting a mortgage means obtaining the best agreement possible with the lending bank. This agreement shall not be sustainable only from an economic point of view, but must contain a series of standards and clauses protecting the parties that exclude any issues subsequent to the party that is to disburse the loan or to the party that is to perform the return of the same.
Why a mortgage analysis?
It is therefore important to precede the contract with a accurate mortgage analysiswhich will be articulated on various aspects such as usury, i rates of interest and other aspects lawyers often less well-known. Mortgage verification is particularly important for the construction companies, the real estate brokers and the operators in the sector that make extensive use of this formula, as well as for bank interlocutors who need a double check before signing the agreement and the subsequent disbursement. in the event of discrepancies, the underwriter of a mortgage can challenge a mortgage report either before a court, with the help of a lawyer, or even without a lawyer before the director of his bank branch or before the abf (banking financial arbitrator). We will provide the client with a technical report and a file with all bank documents in order, so that all documents are ready, for instance, for a subrogation or to apply for financing.
Usurious mortgages: who to turn to
When you fear you have subscribed to a mortgage with usurious ratesfiguring out who to turn to is not always easy. Apart from the lawyer, who can make a general loan controlit is essential to find a expert specialist in the field of verification of usurious loans.
Lo Studio Cappuccio has for years been advising banks and private individuals on mortgage rate analysis, Italian and foreign currency mortgage analysis and usurious mortgage verification. At the same time it also deals with analysis on current accounts, derivatives analysis and analysis on unit-linked policies.
Below are the main mortgage usury verification tools adopted by Studio Cappuccio:
- Checking whether the interest agreed in the loan is usurious pursuant to Law 108/96;
- Examination of the application of objective and subjective usury;
- Check on whether application of anatocism;
- Examination of the possible application of usurious default interest;
- Verification of compliance with contractual agreements with reference to value dates and transaction dates;
- Analysis of the amortisation plan. The French-style plan is in fact a harbinger of numerous problems;
- Check on the capitalisation of the ratio whether simple or compound;
- Checking for any threshold (floor) rates in the contract that sanction the use of an implicit derivative;
- Advice in the pre-mortgage phase. Prevention is indeed better than cure;
- Conditional mortgages;
- Reimbursement of' Unlawful stipulation right on BHW loans;
Not all mortgages are usurious. The verification of usurious mortgages passes first of all through a preliminary consultation, in which you will have an objective analysis of the analysed financial ratios. Often, in fact, some appraisals are carried out in an approximate manner.
he sole purpose of pleasing the client leads to erroneous results, thus running the risk of being convicted of reckless litigation.
Besides usurious mortgages, when to turn to us
We recommend contacting us in cases of
- Anatocism
- Illegality due to lack of transparency
- Unlawful charging of interest on arrears
- Usurious default interest
- Non-agreed-upon charges (e.g., investigation fees)
- Burdens too high
- Non-contractualised charges in the French-style mortgage
What is possible with a mortgage analysis?
- Nullity of Interest
- Nullity of mortgage
- Recontracting interest and terms of the financial relationship
The firm also deals with applications to the ABF (Banking and Financial Arbitrator) and ACF (Arbitrator for Financial Disputes).
Who turns to the firm for verification of usurious mortgages or other non-compliance with the agreement
For mortgage verification we are often contacted by natural and legal persons with pending injunctions. We often use the bank expertise technique to stop the enforceability of an injunction. Also approaching our offices are construction companies that are close to bankruptcy, bankruptcy receivers who want to analyse all the loans put in place by banks, legal departments of banks that need to analyse the mortgages that are being sued by private individuals who want to analyse the solvency of their loans.
Bank loan appraisal: documentation required for analysis
For the purposes of analysing the loan agreement, it is necessary to acquire the following documentation, in particular:
- loan agreement and related deed of disbursement;
- payment accounts or bank statements showing the debiting of loan instalments;
- amortisation plan;
- certification of interest expenses;
- any changes in the conditions.
Please note that these documents are described as examples. An accurate mortgage rate check, for example, is each time a specific case that will have to be assessed as such. Should the customer not be in possession of all the documents, he may proceed to request them from the bank. The latter is in fact obliged to hand over all documentation from the last 10 years to the customer if the latter asks for it.
The Mortgage Analysis Process
Studio Cappuccio's analysis procedure consists of six steps:
1) First, we request the documentation necessary to carry out the above analysis (contracts, payment slips, letters from the bank).
2) A free pre-analysis is then carried out, after which a meeting is held with the customer.
3) In case of acceptance, a contract is signed and the appointment is made.
4) The customer then proceeds to pay the 50% of the agreed amount and the 50% upon completion of the work.
5) We then send a draft technical report for approval of the loan analysis.
6) Once approved, a copy of the final report of the derivative report is sent in both hard copy and virtual form.
