mortgages..........
This query is : Resolved
14 June 2008
Charges can be created for one property from more then 1 banks .\\????
19 June 2008
Legally it is possible..
Practically 2nd mortgages are not preferred by banks.....since the firt mortgager has first charge(Security) and the second bank has second Charge...which increases the risk of the second bank.
If there is a significant difference between the market value of the security and the first loan, second mortgage is posssible..
Practically 2nd mortgages are not preferred by banks.....since the firt mortgager has first charge(Security) and the second bank has second Charge...which increases the risk of the second bank.
If there is a significant difference between the market value of the security and the first loan, second mortgage is posssible..
03 October 2008
Oh yes.
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