Document background
A Third Party Mortgage Agreement is utilized when someone wishes to provide their property as security for another person's mortgage loan. This arrangement is common in family situations or business relationships where one party has property assets but is not the primary borrower. The agreement, governed by English and Welsh law, details the security arrangement, rights of enforcement, obligations of all parties, and protections for the third-party mortgagor. It must comply with strict regulatory requirements and includes specific provisions for property registration, enforcement, and the third party's ongoing obligations.
