Only APRA regulated financial institutions may request an eCT:
- after registration of an electronic mortgage, and
- if they are PEXA Subscribers or are represented by a PEXA subscriber. This is essential because once there is an eCT for the land title, future transactions will require an CoRD Holder Consent to be lodged in PEXA.
A paper CT will always issue if the registration results in the land title becoming:
- unencumbered (no mortgage), or
- encumbered with a first mortgagee who is not eligible for an eCT.