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What is a Registered Mortgage?
What is an Equitable Mortgage?
Equitable Mortgage vs Registered Mortgage
A mortgage loan is not the same as a home loan, and in fact, is a term can be used
interchangeably with loan against
property. In such type of a debt instrument, a loan is sanctioned against a
property collateral. In the advent of a
failure to repay the loan, your lender is backed by law to repossess a property used in
a mortgage agreement.
Bajaj Housing Finance offers different types of mortgage loans – equitable mortgage and registered
recommend that you have a meaningful grasp of what the two mortgage loans mean and how
they operate. Read on to learn
more about the differences between equitable mortgage and registered mortgage
A registered mortgage is when the borrower grants full rights of the property to the lender in the event of a loan
repayment default. When this happens, it means that the borrower has permitted the lender to handle the property in
whichever way they deem fit. This loan demands that the sub-registrar assents the loan before the agreement can be
completed. Thereby, the borrower and lender decide to honour a code of terms and conditions which will run for the
loan's duration. This is usually determined by a third party.
Note that this only happens when you do not meet up with your repayment. It is a loan type that demands lots of
attention, and the bank bears various claims to the property that a simple mortgage loan does not allow.
A quick tip: To secure a registered mortgage loan, the applicant is mandated to make a declaration on the property and
this is done with the sub-registrar via a written document that serves as evidence of transfer of interest to the lender
as security for the loan. Another name for the registered mortgage is the “Deed of Trust”.
Now that you understand the respective meanings of equitable mortgage and registered mortgage, it's time you learned
about the differences between equitable mortgage and registered mortgage.
A quick tip: the differences are determined by several factors which include:
Now that you're acquainted with the factors that determine these differences, here are the things that differentiate an
equitable mortgage from a registered mortgage.
Now that you know what both mortgage loans entail, their specifications, and their differences when compared, we
recommend Bajaj Housing Finance for when you want to consider taking a mortgage loan. Click here for your equitable
mortgage registration or registered Mortgage registration. For additional informal, queries, and further assistance,
please don’t hesitate to contact our 24/7 customer service team.
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