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First charge

The mortgage definition for First charge:

If your property is collateral for more than one property and the borrower defaults on payments, the lender with a first charge has the option to repossess the home. 

Similar Matches

Bankruptcy charge

Bankruptcy charge
This is an investigation carried out by the Land Charges Registry to check if a purchaser is or has ever been bankrupt. Most mortgage lenders will insist on this search being carried out and it usually carries a small charge.


Charge certificate

Charge certificate
A certificate from the Land Registry that shows the boundaries of a property and gives details of covenants affecting it.


Discharge

Discharge
Paying of the remainder of a mortgage.


Further Suggestions

Discharge fee
Late charge
Unpaid ground rent charge


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First charge
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