What is a mortgage registration?

Once you obtain a residential mortgage from a lender, the lender will register the mortgage against your property which provides the lender with the ability to secure a mortgage or other loan against your property. This mortgage registration gives the financial institution the legal right to claim the registered property if the mortgage loan is in default under the terms of your mortgage loan.

Your lender will register what is known as a “charge”. There are two types they may use: standard and collateral. Bridgewater Bank registers all mortgages as a standard charge mortgage.