Mortgage deed
When purchasing a home, the notary usually prepares two deeds: the deed of transfer and the mortgage deed. The mortgage deed records all the details and provisions of your mortgage. The mortgage deed regulates the loan arrangements with the bank, with your home serving as collateral.
About the mortgage deed
A mortgage deed sets forth the mortgage loan agreements between you and the bank. Most homebuyers need a loan from the bank to purchase a home. In exchange for this loan, the bank requires security in the form of a mortgage lien. This means that you give your home as collateral to the bank. If you fail to meet your payment obligations, the bank has the right, in extreme cases, to sell the home and pay the outstanding loan from the proceeds.
Preparing mortgage deed at a notary
If you want to establish, refinance or increase a mortgage, you can contact us to make sure everything is properly arranged. With a mortgage deed, you provide security to the bank for the repayment of the money loan with your home serving as collateral. After you sign the offer for the money loan, your financial advisor will make sure that all the necessary documents are sent to our office. Our experienced staff in the real estate department will then take care of everything up to the point of signature.
Components of a mortgage deed:
- The amount of the mortgage;
- The description of the property, the collateral;
- The mortgage interest to be paid;
- Mortgage repayment method;
- An obligation (if any) to insure the property;
- The bank's general terms and conditions.
Why choose Marks Wachters notaries?
- Personal
We combine high-quality service with personal attention. - For over 75 years
A household name in Greater Eindhoven and Nuenen since 1949. - Clear
We communicate in understandable language and avoid unnecessary legal jargon
We are also happy to help you with:
Personal and non-committal
Requesting a quote
Would you like to receive a free quote for the preparation of the mortgage deed? Or would you like a combination quote for the purchase of your home? Let us know, fill in your details and one of our staff will send you a no-obligation quote as soon as possible.
