Most of the time the purchase of property is accompanied by a loan from a bank. For this loan, the lender wishes to obtain assurance in the form of a mortgage right, which is recorded in a mortgage deed.
The registered property on which the right of mortgage is based is called the collateral. In case the borrower defaults and he is not repaying the loan, the bank as the mortgagee has the right to foreclose on the collateral (auction).
The assignment for making up a mortgage deed is sent directly to our office by the bank, after which we contact the customer.
It is also possible that an amount is borrowed from family or friends. In that case, a right of mortgage can be set on the debtor’s home.
For more information about establishing a right of mortgage, please contact us.