QRCs: C2.3 Prepare a mortgage with additional clauses

C2.3 Prepare a mortgage with additional clauses

This example uses a Mortgage containing a Trustee Limitation clause to demonstrate the steps.

To prepare an All Obligations Mortgage:

Select the Mortgage in the Create Dealing screen and click to open the Prepare Mortgage screen.
Select the Share/Interest/Complex mode (All is the default mode but you can select other modes at this stage if relevant).
Review the Mortgagor name. Check the Change Due to Pending Dealing box to edit the names (if required).
Check the Affected box for each affected mortgagor.
- Click Display Mortgagor to check the affected mortgagor(s) details.
Select the Quick Code from the drop down list in the Mortgagee area or enter the Mortgagee Name. If your firm has customised mortgagee quick codes, these display at the top of the list in the Quick Code field.
- Complete the Share of Mortgage fields (if the mortgage is held in shares).
- Click to insert a new row in the Mortgagee area.
Enter the Memorandum No.
Enter the Priority Amount for the Mortgage (if required).
Click to show the Overall Effect of the Mortgage.
Click to open the Add Text screen where you can enter any additional clauses, conditions or information to clarify intent.
- Click to save the information.
Click to save the Mortgage.

Note: To restore pre-populated names in the Mortgagors' section of this screen click

Note: For a simple Fixed Sum Mortgage follow the steps that are highlighted.

Firm Quick Codes

Contact your System Manager if you require new or customised mortgagee quick codes to be set up to suit your firm.

For more information, see page D6 Maintain Firm Quick Codes.

before clicking . This will check that all mandatory fields have been completed.

Click to review the instrument you have just prepared.

Fields marked with a red * are mandatory and must be completed.

To prepare a Fixed Sum Mortgage:

Note: For a simple Fixed Sum Mortgage follow steps that are highlighted.