on 11-07-2017 11:49 AM
We act for several private lenders who have 28-30 page mortgage memorandums which we normally attach to the mortgage and lodge as one document ie. a 30 page mortgage. We act in all States. Whilst you can upload a copy of the memorandum for future reference to files, we are unable to load these to be annexed to the mortgage document for lodgement as we would in paper. What is the electronic work around for this?
on 12-07-2017 01:15 PM
The mortgage memorandums can be lodged and registered with the land registries who will provide you with an associated Memorandum ID number. You can then enter the ID number upon creation of the mortgage document in PEXA. This code replaces the need to attach the 30 page document.
If you would like to discuss specific details, please let me know as I'm more than happy to give you a call.
on 18-07-2017 04:29 PM
Thanks for the response Cate.
As we have multiple memorandums which would need to be registered in multiple states I was hoping that the ability to upload for registration in PEXA might be possible. Is this something PEXA would be looking at incorporating in the future?
on 18-07-2017 04:48 PM
I am also not sure how this works for bespoke mortgages where terms and conditions are negotiated potentially up until the date of settlement.