Mortgage providers are in a unique position in relation to conveyancing. It is essential that a mortgage provider protects the security in their loan held in the strongest form of legal protection known as a mortgages. Essentially, a mortgagor is given the right to sell a property if the loan is not repaid. We can assist you with the drafting of loan documentation for matters involving the law in New South Wales. We can also assist you with the transactional elements of mortgage transactions such as registration of mortgages and attendance at settlements and we can provide legal advice in relation to the mortgage processes which you are going through if this is necessary.
We provide assistance to mortgage services providers
It is necessary to remember that in the law, although a mortgagor’s power of sale is one of the strongest property protection rights available, there are a number of controls on the way that this power can be exercised. You also need to have a supporting loan agreement. There are a large range consumer credit regulations external to the loan servicing market as well which can mean that if the requirement of these services are not strictly followed, it can become impossible or very difficult to enforce a loan against the borrower. These regulations have lead to increased scrutiny because of the national consumer credit protection legislation as well.
If you have any questions concerning mortgage law, or you are a mortgage service provider and you need assistance with the transactional elements of dealing with your loan finance clients, we are more than happy to assist you. Our solicitors have years of experience in dealing with matters like this and an intimate knowledge of the mortgage finance legal and regulatory system. Please do not hesitate to contact us if you would like more information.
Conveyancing Enquiry