Details for the registered owners will not display for affected titles subject to a withholding direction (hidden title).
Types of mortgages you can prepare in Landonline
The types of mortgages you can prepare are:
- Full mortgage (Simple mode)
- Mortgage different shares or interests (Complex mode)
- Mortgage only part of the land (Complex mode)
- Mortgage another mortgage, encumbrance, lease or other interest (Instrument mode).
How to correctly enter mortgagee names
Sometimes mortgagee names are incorrectly entered on the Record of title when a mortgage is registered. Only the legal name of the mortgage should be entered. For example, a company's registered name.
Landonline has a defined list of common mortgagees which you can select directly from the Mortgagee field. Make sure you select the correct one, if available, as some mortgagees have several similar names. For example, TEA Custodians (Interstar) Limited, TEA Custodians (Bluestar) Limited.
You'll need to manually enter the names of mortgagees not already defined by Landonline, such as private mortgagees. Each new mortgagee must be added separately and spelt correctly. Use the names from the mortgage document or the bank's letter of instruction exactly as they're written.
The word 'Limited' forms part of a company name so needs to be included when entering a new mortgagee. For example, not ASB Bank but ASB Bank Limited.
What not to do with mortgagee names
Do not add additional information from the mortgage documents in the Mortgagee field. For example, details of the registration or location of the office. Add other information, such as supplementary clauses and conditions to clarify the intent for the mortgage, by selecting Complex mode and typing the information into the Additional Clauses, Conditions or Intent field.
Do not include references to trusts when entering the mortgagee's name, as this contravenes Section 153 of the Land Transfer Act 2017.
Dealing with titles with different ownership
If you need to mortgage titles that don't have common ownership, for example, you are mortgaging a trustee of multiple trusts, you'll need to add individual mortgage instruments for each unique ownership combination.
If you need to mortgage a mortgage or other interest on titles that don't have common ownership, this can be done using Instrument mode.
Fixed sum mortgages
Fixed sum mortgages will register automatically, even with detailed information added.
Enough space exists in the Fixed sum fields in Landonline to add all information, including complex interest payment provisions. Select the Fixed sum toggle on the Mortgage page to show the fields.
Some mortgage packages include the Authority and Instruction (A&I) form in the mortgage form. This has created the impression that the whole document needs to be attached to the instrument. This is neither correct or advisable for the following reasons:
- by attaching a PDF, the dealing will step down to Lodge and risks rejection or requisition
- by inserting the relevant information in the fixed sum fields provided will mean the instrument can auto-register without the risk of reject or requisition
- the A&I form is 'off the register' information and may contain confidential information that should not be on a public register. For example, it's undesirable for a client's passport or driver's licence details to be publicly viewable.
You should be able to include all information using the templated fields for a fixed sum mortgage without needing to use the Additional Clauses, Conditions or Intent or Attach Image options.
Open the instrument preview to review all the details to appear on the final mortgage.