If a bank is subscribed to Notice to Mortgagee, they will receive post registration search copies of the registered mortgage and updated Record of Title directly from Landonline. This replaces the need for the post registration searches to be forwarded to them by the acting solicitor.
The following banks are now subscribed to Notice to Mortgagee (NtM):
- ANZ Bank New Zealand Limited
- Avanti Finance Limited
- Bank of New Zealand (BNZ)
- Basecorp Finance Limited
- Christian Savings Limited
- Kiwibank Limited
- Loan Investment Trustees Limited
- The Independent Mortgage Company Limited (formerly Maverick Financial Services Limited)
- Rabobank New Zealand Limited
- Resimac Home Loans Limited
- Southern Cross Finance Limited
- Southland Building Society (SBS)
- The Hongkong and Shanghai Banking Corporation (HSBC)
- TSB Bank Limited (TSB)
- Westpac New Zealand Limited (WNZ1)
How it works
When a mortgage instrument is created, Landonline checks if the Mortgagee is subscribed to Notice to Mortgagee (NtM).
If the Mortgagee is subscribed to NtM, a new field called ‘bank client ref’ will display on the post registration search screen.
This field is mandatory to complete for all banks subscribed to NtM. If you don’t complete the bank client ref field, you will get this error when clicking submit:
The letter of the instruction from the bank will advise what you need to enter into this field.
On registration of the dealing the bank will receive the registered mortgage instrument and updated title via email.
This replaces the need for you as the acting solicitor to forward your post registration search email to the bank.
Frequently Asked Questions
How do I know if the bank is subscribed to Notice to Mortgagee?
The ‘bank client ref’ field will only display in the post registration search screen if the mortgagee is subscribed to Notice to Mortgagee.
In addition, if the bank is subscribed to Notice to Mortgage, their letter of instruction to you will advise what should be entered as the “bank client ref”. Their instructions should not require you to provide them with post registration search copies of the registered mortgage and updated Record of Title.
What do I enter into the ‘bank client ref’ field on the post registration search screen?
The letter of instruction from the bank will advise you what to enter in the ‘bank client ref’ field.
Do I still need to forward the post registration search to the bank if they are subscribed to Notice to Mortgagee?
It is expected that if a bank is subscribed to Notice to Mortgagee they will not require the post registration searches to be forwarded to them. However, please refer to your letter of instruction from the bank to confirm.
Does Notice to Mortgagee advise banks of discharges and variations of mortgages as well?
No, Notice to Mortgagee is currently only available for new mortgages.
What happens if my dealing contains more than one mortgage and only one has a mortgagee subscribed to Notice to Mortgagee?
In the situation of multiple mortgagees in a dealing, the bank client ref field will only be available for the instrument where the bank is subscribed to Notice to Mortgagee.
On registration of the dealing, only the documents that pertain to the mortgage for that bank are sent to them.
Will the bank still receive the Notice to Mortgagee if I select ‘Submit with No searches’ on the post registration search screen?
Yes. Regardless of which button you select on the post-registration search screen, the subscribed bank will still receive the Notice to Mortgagee email.
Can I choose not to complete the ‘bank client ref” field?
No. If the bank is subscribed to Notice to Mortgagee the ‘bank client ref’ field is mandatory to complete.
Will I be charged an additional fee if the Mortgagee is subscribed to Notice to Mortgagee?
Not at this stage, you will only be charged for the post registration searches you request.