The Mortgage Deed explained, and a look at the available mortgage assistance from Shire Direct!
The Mortgage Deed is the legal document which details the terms and conditions of the mortgage agreement.
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Here we take a look at the Mortgage Deed and how it works and offer details as to how we can can assist with Mortgage funding even in the trickiest of circumstances.
Table of Contents:
What is a Mortgage Deed and how does it work?
So what is a Mortgage Deed and how do Mortgage Deeds work exactly? Well, the Mortgage Deed is a legal document which holds details of the terms and conditions of the mortgage agreement.
How does the Mortgage Deed work?
The Mortgage Deed pledges freehold or leasehold property as security for the amount advanced on the loan, and in return will receive certain rights, including the authority to sell the property in the event the contractual mortgage repayments are not maintained.
All borrowers, whose signatures must be independently witnessed, must sign the Mortgage Deed, and an authorised signatory of the lender must also properly execute the document.
The Mortgage Deed (or Legal Charge as it is often referred to as, and in Scotland this document is known as the "Standard Security"), will remain in force until such times as the mortgage balance has been fully discharged.
On completion of the mortgage loan, the borrower's solicitor, under instructions from the Mortgage Lender, must send the Mortgage Deed to HM Land Registry in order that they can change their records to show the new lender's details in the Title Deeds.
Mortgage assistance from Shire Direct ...
If you are looking at purchasing a home and require mortgage assistance, why not get in touch with us, we can often help, even in the trickiest of circumstances.
We have professionally qualified mortgage advisors ready to take your call and answer your questions and discuss the options the that could be available to you. Naturally, we'll carefully assess your circumstances, needs, requirements and aspirations and come up with the most appropriate solution for you.
We are confident that you will find us to be friendly, helpful and professional without being stuffy or judgemental. So, please don't hesitate to contact us if you think we could be of assistance and wish to talk through your requirements, naturally without obligation! Our mortgage experts are available from 8am until 10pm every day, including weekends on Freephone 08000 282 281 will be only too happy to speak to you. Alternatively, why not enquire online, its simple and takes only a few seconds to complete. We'll be delighted to provide you with an in-principle decision - whatever your requirements.
So, hopefully we've managed to explain the Mortgage Deed and how it works. Don't forget there is a wealth of mortgage and remortgage related information throughout our website that we hope you will find useful and remember we're only ever a freephone call or couple of mouse clicks away!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.