Ultimately behind every mortgage is the promise made by the property itself that if the owner does not pay the property will. This is known as a rights in rem (right against the thing). It is why large amounts can be loaned between complete strangers on a mortgage verses personal loans where only small amounts are ventured. The lender does not need to rely on the borrower’s promise, or on their fortunes prospering, instead the lender relies on the land being immutable.
Bransgroves Lawyers maintain that the best way to avoid prolonged and aggravating mortgage enforcement is to be careful who you lend to in the first place by careful loan underwriting. However if there is an unremedied default, and you need to exercise power of sale, we can ensure the whole process proceeds with the minimum of expense and disruption for all involved.
We have been conducting mortgage enforcement for over two decades. There are over 155 Supreme Court decisions displayed on Austlii where Bransgroves Lawyers have acted for the lender on mortgage enforcement. Only a tiny percentage of mortgage cases go to trial so this translates to thousands of mortgage enforcements we have undertaken over the years.
No factual background or legal dilemma gives us pause because in the last 20 years we have seen it all. We are geared to act quickly and cost effectively. The sheer volume of mortgage enforcement work we have undertaken means even our Associate Solicitors have more experience in this field than most partners at other firms.
We can draft the required default notice for National Credit Code, non-coded and Farm Mortgages. Our service level benchmark is to issue notices within 12 business hours of receiving enforcement instructions.
We can bring possession proceedings in New South Wales, Queensland, South Australia, ACT and Victoria. We are experienced with the different requirements for a registered mortgage, unregistered mortgage, caveat mortgage, company title mortgage and community title mortgage. Indeed we pioneered many of the precedents and procedures that are currently in use by the profession.
Contact us today to discuss your mortgage enforcement needs.
