Prepare a variation of mortgage

1: Navigate to the Prepare Variation of Mortgage page.

You access the Variation of Mortgage prepare page from the Instruments & Roles page. 

To open the page, choose 1 of the following: 

• Select the Variation of Mortgage hyperlink when the instrument details are collapsed. 
• Select the Prepare button when the Variation of Mortgage details are displayed. 
• Select the 3-dot menu, to the right of the of Variation of Mortgage instrument. Then select Prepare instrument from the menu.

2: Check the affected instrument number is correct. 

Check the affected instrument number is correct. If blank select the affected instrument from the dropdown menu.

When there is only 1 affected relevant instrument on the title(s), the Affected Instrument field will automatically populate. Check this is the correct instrument number. 

If there are multiple affected relevant instruments, select the down arrow in the Affected Instrument field. Then select the instrument number affected by the variation of mortgage. 

3: Check the Mortgagors and Mortgagees are correct.

The mortgagors and mortgagees will automatically display. 

The mortgagors could reflect any change of ownership instrument prepared in the same dealing prior the variation of mortgage.

Change due to pending dealing 

Use the Change due to pending dealing toggle under the mortgagors to edit, add or delete the names displayed. For example, to reflect an instrument in a prior dealing which is updating who the mortgagors will be.   

To reorder names, select the icon that looks like 6-dots to the left of a name and drag and drop them above or below another mortgagor or mortgagee. 

Revert / update 

The Revert/Update button above the Mortgagors section can be used to re-set the mortgagor names to reflect the Register and any prior instruments in the dealing.  For example, if the name has been edited using Change due to pending dealing it will revert to what is recorded on the Register. 

Another example is if a prior instrument has been added to your dealing which changes the mortgagors. Using Revert/Update will pull through the updated names.

Additional mortgagor details 

To view other details such as an alias, suffix or birth date of a minor, select the person icon to the right of a mortgagor. 

If the person icon is filled in and blue, that means there are additional details recorded for that mortgagor.

4: Enter the details to vary the mortgage as required.

Update the Mortgage details section as required, such as: 

• Select a New Memorandum number from the drop-down menu. If you select a memorandum number and didn't mean to, you will need to press the blue back arrow to return to the Instruments & Roles page without saving your changes and then prepare the instrument again. If you've already saved the instrument then you will need to return to the Instruments & Roles page and delete the instrument and add a new variation of mortgage. 
• Enter the date and any other details about when the changes will be effective in the Change with effect from field. This is a mandatory field. 
• Switch between All obligations or Fixed Sum and enter the new priority amount or principal sum details. 
• Add or update any mortgage conditions or clauses in the Vary Additional Clauses, Conditions or Intent text box. 

Vary Additional Clauses, Conditions or Intent text box

If there are too many changes to fit in the Vary Additional Clauses, Conditions or Intent text box, attach them as a PDF file in the Attach Image section. 

If you’re just updating conditions or clauses and are attaching these in a PDF, make sure you enter 'See attached PDF for details’ into the Vary Additional Clauses, Conditions or Intent textbox so the instrument passes pre-validation. 

Adding text will cause the instrument to step down to Lodge.

5: Upload an attachment to support the variation of mortgage, if needed.

Skip this step and go to step 6 if you don’t need to attach a document. 

Use the Attach Image field to add PDFs. You can: 

• drag and drop a PDF into the Attach image field, or 
• select browser and upload a PDF from your files. 

Each PDF cannot exceed a file size of 10MB. You can attach PDFs with a combined file size of 20MB. 

You can view an attached PDF: 

• by clicking on it, or
• select the Preview Instrument button to view the completed instrument and attachments. 

Attaching an image will cause the instrument to step down to Lodge.

6: Check the Summary to review the instrument details. 

The Summary tab will automatically update and display the affected record of title and instrument, the affected mortgagors and mortgagees and some details for the variation. 

For a full instrument details select Preview instrument.

7: Save the instrument details. 

To save instrument details: 

• Select Save to save information and remain on the Prepare transmission page. 
• Select Save and back to save the information and return to the Instrument & Roles page.