answersLogoWhite

0


Best Answer

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

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a deed of postponement?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

When was The Postponement created?

The Postponement was created on 1995-09-28.


What rhymes with atonement?

postponement


Postponement of military service?

Deferment


What is postponement of a criminal sentence?

Reprieve


What is a name for the postponement of the military service?

Deferment.


What are the ratings and certificates for Seinfeld - 1989 The Postponement 7-2?

Seinfeld - 1989 The Postponement 7-2 is rated/received certificates of: Canada:PG (video rating)


What is another term for temporary postponement?

cold storage


What is the postponement of the execution of a sentence is called?

It is called a stay.


What were some of the after affects of the battle of Britain?

Postponement of German invasion.


What document does danforth at first refuse to even look at?

Postponement


What is a synonym for the word reprieve?

stay, release, postponement, pardon, comfort


What is the palindrome for an act?

DEED.