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New PRA prescribed forms of charge/mortgage
Practitioners are advised to familiarise themselves with the content of the publication by the PRA, Deeds of Charge/Mortgage – Legal Office Notice 1 of 2012, which is available on the PRA website.
For charges/mortgages executed on or after 1 March 2012, the charge/mortgage must be in the new form prescribed by the PRA.
Form 114 relates to residential mortgages, while Form 115 relates to debentures and commercial mortgages where a specific charge on registered land is intended to firm part of the security.
