Mortgage (electronic)

A Mortgage instrument is used to register a new mortgage over the land title.

An electronic mortgage lodged via PEXA consists of two counterparts:

  • an electronic counterpart, known as a Mortgage (Electronic Counterpart) Instrument, prepared and signed by the subscriber representing the mortgagee and
  • a paper counterpart on the same terms as the electronic mortgage signed by or on behalf of the mortgagor.

Both counterparts are required to form the legal Mortgage instrument. Only the electronic counterpart is lodged for registration. The paper counterpart must be held by the mortgagee as specified in the NSW Participation Rules for Electronic Conveyancing (PDF  995.3 KB)(section 6.13).

An electronic Mortgage can be lodged where it affects the whole of the land and all of the registered proprietors.

An electronic Mortgage cannot be used (a paper Mortgage form 05M (PDF 227 KB) may be used) in the following instances:

  • To mortgage an interest or share in land.
  • A mortgage that does not affect all of the registered proprietors.
  • A mortgage which requires Minister’s consent to the mortgage.

An electronic Mortgage requires a CoRD Holder Consent. See CoRD Holder Consent requirements to identify which type of consent needs to be provided.   

For information to assist with completing a Mortgage in PEXA, see PEXA guidance notes for Mortgage.