Mortgages

This is a brief guide to certain general features of mortgages. For further information, or advice, please fill in the form at the bottom of the page.

1. Mortgage Type and Lender

Caesar & Howie staff can arrange a mortgage from a lender and of a type suitable to your circumstances, taking note of the mortgage offers on the market at the time you obtain your loan. Caesar & Howie has an extensive network of mortgage advisers who will assist you.

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2. The Mortgage Offer

From the information you give you can obtain verbal confirmation of the availability of a mortgage at the time you require to offer to purchase. When your offer is successful the Mortgage Application will be processed and in due course you will receive direct from the lender a formal offer of mortgage. You should read this very carefully and return any acceptance forms immediately to the lender. If the lender is not in touch with you direct with the mortgage offer say by three weeks before your date of entry please contact Caesar & Howie Staff who will check for you that matters are in hand.

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3. Obtaining the Loan

After you have accepted the formal offer of mortgage and completed various legal documents prepared by our legal staff we will request or requisition the mortgage funds to be paid direct to Caesar & Howie. The funds will normally arrive just before the date of entry for your purchase. Once our Legal Staff have received the funds, the mortgage lender will be back in touch with you again direct regarding the monthly payments due to them.

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4. Deductions from Mortgage Cheques

When you apply for and obtain a mortgage there can sometimes be deductions from the amount of money actually received by our legal staff for you. For example sometimes there is an "Arrangement Fee" which is basically a payment to the lender for providing the mortgage and this can be deducted from the amount of the final cheque. Another common deduction is what is called the "Higher Lending Charge". This is effectively a premium paid to an insurance company which guarantees the lender against any loss in the event of you, the borrower, defaulting on loan repayments. Different lenders have quite different practices and often there are no deductions at all. It is however important to check your loan offer very carefully and account for any deductions from the mortgage cheque in your house purchase budgeting. Our legal staff will be happy to explain to you any matter in the mortgage offer which might not be entirely clear to you.

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5) Warning - Life Cover

It is usually desirable to take out life cover to ensure that the loan is paid off should borrowers or a borrower die before the loan is repaid. We can offer assistancein obtaining this cover.

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6. Special Note

A Mortgage is different from many other forms of personal debt in that it is"secured" on the property you buy with it. This means that the lender has power to "repossess ", that is to recover ownership of the property involved in the event of mortgage payments not being made. In the unlikely event that you run into difficulties in repaying your mortgage please contact the lender straight away. Most lenders are very sympathetic where financial difficulties arise and there are many steps which can be taken to help before lenders will even consider repossession.

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7. Contact Us

For more information regarding mortgages please compelete the from below

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