Document background
The Loan Agreement And Mortgage is a fundamental document in Australian secured lending, used when providing finance secured against real property. It serves dual purposes: documenting the loan terms and creating a registrable security interest over property. This document is essential for both residential and commercial property transactions in Australia, requiring compliance with federal legislation such as the National Consumer Credit Protection Act 2009 and state-based property laws. It includes key information such as loan amount, interest rates, repayment terms, property details, borrower obligations, and enforcement rights. The document is typically prepared by legal professionals and must meet specific requirements for registration with the relevant state land registry office. It's commonly used by banks, financial institutions, and private lenders for property purchases, refinancing, or raising capital against existing property.
