Create a Mortgages & Charges Data Library

A list of Mortgages & Charges Data Libraries can be accessed directly from an individual Company record of directly from the Data Library Statutory tab.

To create a new Mortgages & Charges Data Library either:

  • Select the Global Data Library icon and then the Statutory tab.

or:

  • Navigate to and open the record for the entity that the information is to be recorded for.
  • Select the Data Library icon and then the Statutory tab.
  • Select Mortgages & Charges from the list of Types available.

The Statutory Records - Mortgages & Charges screen displays.

  • Select New.

The New: Mortgages & Charges screen displays.

  • Add the relevant information to the fields provided (for example, details of the mortgagees, charge code, date of charge, amount, interest rate, address of the property subject to mortgage, etc.).
  • Select the Wand icon to upload any relevant documentation to the record.
  • Select Save and Close the record.

Reports and Registers

The information entered can be retrieved via Reports and Registers.

The Register of Mortgages & Charges will only output records prior to 6th April 2013.

The Report of Charges will output records on or after 6th April 2013, including Charge Codes (etc.).

To run the Report of Charges:

  • Navigate to: the company in question and run the report from Company Details > Wizards > Reports & Registers > Other Reports.
  • Select the Report of Charges option and proceed through the wizard to complete it.

Recording the Satisfaction/Release of a Mortgage/Charge and Generating the Relevant Forms (MR04, MR05, LLMR04 and LLMR05)

If Users select and open a Mortgage & Charge record from the Data Library, they will have the ability via Wizards to run the Satisfy/Release Mortgage and Charge.

They will be prompted to enter an event date, then select whether paid or satisfied, ceased or released and whether in full or in part (as this will determine the form produced at the end of the Wizard process).

They will also need to record information regarding the interest of the person delivering the statement and continue to the next screen which will allow them to finalise the Wizard and generate the relevant documentation (either the MR04, the LLMR04, the MR05 or the LLMR05 form, as appropriate). This can then be produced on paper and/or queued for Electronic Filing to be sent to Companies House.

As part of the Wizard process above, and to make it easier to maintain the records related to the Mortgage and Charge, any Wizard Events carried out to cover partial / full release or satisfaction of a charge creates a "child" record attached to the main Mortgage and Charge Data Library record.

This allows Users to easily see the history related to the Mortgage or Charge. They could then attach the form produced as part of the Wizard or information about the amendments/changes made to the Charge Instrument as part of the Wizard, which can then be opened and reviewed.