The Prepare Mortgage page defaults to Simple mode. Use this mode to prepare a mortgage from all registered owners over all of the affected titles.
Mandatory fields are marked by a red asterisk * and must be completed for successful pre-validation, certify and sign, and submission.
Step 1: Navigate to the Prepare instrument page
To access the Prepare instrument page you can:
- Select the instrument hyperlink to navigate to the Prepare instrument page when an instrument is collapsed.
- Select the Prepare button when an instrument is expanded.
- Use the menu that looks like a 3-dot icon at the end of an instruments row and select Prepare instrument.
Step 2: Choose the right mode for the mortgage instrument
By default, All mode is selected for a mortgage instrument.
The mode type can be changed to Complex if the mortgage is:
- only affecting part of the land
- when dealing with only some of the mortgagors shares and/or interests on 1 or more titles, or
- when adding specific conditions or clauses to the instrument.
Prepare a mortgage in Complex mode
The mode type can be changed to Instrument when mortgaging another mortgage, encumbrance or other interest including lease or easement instrument.
Prepare a mortgage in Instrument mode
Step 3: Choose the registered owners
The registered owners for the affected titles will automatically display in the Mortgagor section, or this will reflect any change of ownership instrument prepared in the same dealing prior to the mortgage. However, you can use the:
- Change due to pending dealing toggle under the mortgagors to edit, add or delete the names displayed, including any additional information like aliases. For example, use when an instrument in a prior dealing is updating who the mortgagors will be. Use the 6-dot grid icon to the left of a mortgagor to drag and drop the mortgagor above or below another.
- Revert/Update button above the Mortgagors section to re-set the 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. Or, if a prior instrument has been added to your dealing which changes the ownership, using Revert / Update will pull through the updated names.
- Additional info icon, the person icon to the right of the mortgagor, to view other details such as aliases, suffixes or date of birth of a minor. When the icon is filled blue, select it to view the additional details and select it again to hide these.
Step 4: Select whether the Mortgagees are Single or Joint or Shares
Select whether the Mortgagees are Single or Joint or Shares. The default setting is Single or Joint.
Use Single or joint for 1 or more mortgagees who will hold the mortgage solely or together.
Use the Shares button where mortgagees will hold the mortgage in shares or amounts. Use a number, fraction, or dollar value.
Step 5: Select or enter a Mortgagee
Select or enter a Mortgagee.
Click on the Name field to view a list of common mortgagees that have associated quick codes. The most common lenders are listed first. Either scroll down the list or start typing the lender’s name to filter the available options.
For other mortgagees, for example, private mortgagees, type the name directly into the field.
Use the Add Mortgagee button to add another mortgagee row.
Use the Add group button in the Shares mode to create a joint tenancy structure including a field to indicate what share the joint tenancy holds.
Use the 3-dot icon to move mortgagees up or down in the list, create a joint mortgagee group, remove a mortgagee from a group or delete mortgagee rows.
Step 6: Enter the Mortgagee details
Enter the Mortgage details.
Click on the Memorandum number field to look up a memorandum.
If the mortgagee has specific memoranda these will be listed first, followed by common or generic memoranda such as ADLS.
Either scroll down the list, arranged from newest to oldest, or start typing part of the memorandum number to filter available options.
Select either the All obligations or Fixed sum option and complete any required fields marked by a red asterisk.
If the mortgage type is All obligations enter the Priority amount. This is not a mandatory field, but since it is commonly used a pre-validation warning will display if the field is blank.
Step 7: Preview the instrument
The Summary tab will automatically update and display a read-only summary of some key details entered on the left-hand side of the page.
Use the Preview instrument button to view, print or download the full instrument preview, including any ‘Add Text’ fields, certifications and signatures.
Step 8: Save the instrument details
Save the instrument details located at the bottom right-hand side of the page.
Use Save to save the information and remain on the Prepare instrument page.
Use Save & back to save the information and return to the Instruments & Roles page.