Mortgage Loan Agreement
Mortgage Loan Agreement (Short)
A short (10 page) Mortgage loan agreement including clauses relating to:
· Fixed interest
· Variable interest
· Capitalisation of interest
· Further advances
· Collateral securities and agreements
This agreement is designed to be used with the Memorandum of Common Provisions drafted specifically for this purpose.
Mortgage Loan Agreement Front Page
Mortgages dated on or after the 3rd of March 2018 must be lodged on the National Mortgage form. Mortgage Front Pages are available as a free download . The link to the latest version is in the download. The precedents that follow are the nuts and bolts of the mortgage. They form the terms and conditions, but must be attached to the National Mortgage form front page before the mortgage can be registered.
Included Free In Your Downlaod
A loan calculator that enables you to calculate the repayments and a repayment schedule for the loan. Simply enter the loan amount, interest rate, term, commencement date and our loan amortisation will calculate monthly repayment AND give you a schedule of all repayments over the life of the loan including the due dates!
Legal Drafting Booklet
Mortgage Loan Agreements
The National Credit Code regulates the provision of credit services, and exempts lawyers from requiring a licence to engage in certain credit activities. Lawyers may draft mortgage documentation for clients provided that they did not introduce the borrower and lender and are not associated with anyone who did. If a client comes to you with instructions to draft a mortgage for a borrower they have already selected, you are permitted to draft the mortgage documentation by virtue of your capacity as a lawyer.
The legislation and rules are complex and you should refer to the source legislation if you are in any doubt as to whether your instructions fall within the permitted parameters or not. Links to all legislation and rules are provided throughout the commentary.
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