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Justify a Mortgagors Name using the National Mortgage

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  • Justify a Mortgagors Name using the National Mortg...
Justify a Mortgagors Name using the National Mortgage
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  • Mortgagee
JemmaHirst
JemmaHirst
Frequent Contributor
‎11-05-2018 03:23 PM
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Last updated: 05 February 2020

 

 

Overview


A Mortgagors name can be justified when lodging a National Mortgage in VIC, NSW and SA. 

 

This is commonly used in refinances where the party on title (i.e. the mortgagor) has changed their name (for example, a party has married). The name/s can also be justified when lodging a standalone mortgage.

 

Steps


  1. On the Participants screen, locate the party who has changed their name.
  2. Click Edit Party.
  3. Amend their name.
  4. Enter in the justification, reasons and evidence.
  5. Click Save.

Results

It will display as below:

 

unrep_parties.png

Justification Details are presented in the National Mortgage.

 

justifying_nat_mortgage.png

Note: For NSW, A Notice of Sale is required to be completed by the Incoming Mortgagee and will need to be lodged in support with the National Mortgage. It will automatically be created.

 

It will display as In Preparation. Next to the Notice of Sale, select Edit, complete the document and select Save.

 

NOS R8.jpg

Once completed, it will display as below.

 

nos.png

 

Complete the rest of your transaction as normal.

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6 Comments
TheDoctor
TheDoctor Community Superuser
‎11-05-2018 04:00 PM
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Hi @JemmaHirst,

 

I just watched the Release 8.0 webinar.

That only mentioned Change of Name for Mortgagees, not Proprietors.

 

It showed that Standalone NSW Change of Names for proprietors will be introduced in Release R9.0.

 

Have I misunderstood?

 

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JemmaHirst
JemmaHirst
‎11-05-2018 04:53 PM
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Hi @TheDoctor

 

This change is about the change of name for Mortgagors, not mortgagees. You can view the release notes for release 8 here. It is not referring to lodging a NSW Change of Name for Release 8. Evidence details still need to be listed.

 

We are hosting a Release 8 Webcast and Ask Me Anything event on Monday 21 May which may be a useful session to dial into. You can register here

 

I hope this helps!

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BGoodwin
BGoodwin Community Superuser
‎22-05-2018 03:10 PM
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Hi @JemmaHirst

 

It's been a while since we've spoken Smiley Very Happy. The NSW Land Registry haven't mentioned if the National Mortgage Form will be updated to include the Change of Name (like Victorian mortgages). Do you know if they intend to update the Mortgage format?

Edit: I've since emailed back and forth with Cliff Wally at NSW Land Registry and I'm still unclear if they are going to update the mortgage form. I guess we keep collecting a signed Change of Name form and related evidence, until the forms change. But it is great that we can process the change of name through PEXA. A point to note is an additional lodgement fee applies for the change of name component (unlike Victoria).

Regards

Baz...

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JemmaHirst
JemmaHirst
‎22-05-2018 03:42 PM
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Thanks @BGoodwin and thank you for the updates on your communication with NSW Land Registry. If I hear anything else I will post it here as well.

 

Many thanks

 

Jemma

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fslm
fslm
‎10-01-2020 03:42 AM
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Thank you Gemma.

 

As a conveyancer involves in her refinance I used this information to send to my lender to insist it be done this way (new mortgage in married name). Now, I can see a DM and new M and no other registrable dealings; yet PEXA are charging 2 registration fees for the mortgage. 

Can you please guide me through why? 

Thank you

 

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AdamR
AdamR
‎21-07-2020 02:53 PM
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Hi

I have a scenario where a Mortgagors name is to be justified when lodging a National Mortgage in SA through PEXA. 

In this case however there is already a mortgage registered. We are registering a second mortgage.

Can this be done through PEXA?

 

Thanks

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