Deed Of Postponement(DOP)
If the customer has a mortgage with Lender 1 then this lender already has a charge at the land registry. How if the customer approaches Lender 2 for a Secured Loan, then Lender 2 should send a DOP asking Lender 1 if they agree for them to be second charge holder.
This letter gives Lender 1 priority over Lender 2 when it comes to releasing the charge.
IF the customer is unable to continue with the mortgage and would like to sell the house, Lender 1 will first get the proceeds that the customer owes to them and if anything is left goes to Lender 2
The Postponement was created on 1995-09-28.
postponement
Deferment
Reprieve
Deferment.
Seinfeld - 1989 The Postponement 7-2 is rated/received certificates of: Canada:PG (video rating)
cold storage
It is called a stay.
Postponement of German invasion.
Postponement
stay, release, postponement, pardon, comfort
DEED.