First Ranking Mortgages

Definition "Mortgage"

According to Anglo-American property law, a mortgage occurs when an owner (usually of a fee simple interest in realty) pledges his interest as security or collateral for a loan. Therefore, a mortgage is an encumbrance on property just as an easement would be, but because most mortgages occur as a condition for new loan money, the word mortgage has become the generic term for a loan secured by such real property.

As with other types of loans, mortgages have an interest rate and are scheduled to amortize over a set period of time; typically 30 years (Private Mortgages are usually interest only for 1-3 years). All types of real property can, and usually are, secured with a mortgage and bear an interest rate that is supposed to reflect the lender's risk.

Mortgage lending is the primary mechanism used in many countries to finance private ownership of residential property. For commercial mortgages see the separate article. Although the terminology and precise forms will differ from country to country, the basic components tend to be similar:

A mortgage is the pledging of a property to a lender as a security for a mortgage loan. While a mortgage in itself is not a debt, it is evidence of a debt. It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

The term comes from the Old French "dead pledge," apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure.

Moshav Private Funding offers Private First Ranking Mortgages secured on real estate in New South Wales (NSW), Queensland (QLD), Victoria (VIC), South Australia (SA) and Western Australia.

"Private Mortgages" (often referred to as solicitors’ loans), have been common in Australia for over a century. Via Moshav Private Funding you have access to a network of solicitors and individual investors Australia wide – if you have a commercial, rural or specialised property that the institutions (banks, building societies etc.) won’t touch and/or no tax returns to support a loan then a Private Mortgage may suit you or your client.

First Ranking Private Mortgages from Moshav Private Funding.

Second Ranking Private Mortgages from Moshav Private Funding.

Equitable Mortgages

Caveat Mortgages

Mere Mortgage