There are 2 types of charges that can be registered by a lender; Conventional (or Standard) and Collateral.

When a house is mortgaged, it is used as security against the loan. This security is registered with a land registry office and is commonly known as a “charge”. This charge gives the lender the legal right to claim the registered house if the mortgage defaults. There are 2 types of charges that can be registered by a lender; Conventional (or Standard) and Collateral.
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