Mortgage for charges created before, on or after 6 April 2013.

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An application to register a charge should contain:

• Application form AP1.
• Certified copy form CH1, or the lender's own form of charge. See Application form AP1 regarding retention of documents submitted with applications.
• The prescribed fee.

 
How long do you have to register a charge at Companies House?

Within 21 days

With limited exceptions, a company is required to register a charge at Companies House within 21 days.

 
What is first charge on a property?

A ‘first charge’ on a property means the creditor has the primary rights on a property. If you were to default on the mortgage, the primary charge mortgage lender will have the firsts rights to the said property. This is commonly used when you need to invest a large amount of money into a business, and should the risks not be too high, many lenders will consider the loan on the basis of a first charge mortgage.

 
How do I remove old charges from Companies House?

You are able to remove charges from the register on Companies House by either filling a MR04 form (where the debt has been satisfied in part or full) or a MR05 form (where the charged property has been partially or fully released). Lenders tend to have no problems with the borrower applying to remove these charges.

 

Register a charge (MR01)

A 'charge' is the security a company offers for a loan. For example, a mortgage is a type of charge. You will need to file an MR01 with Companies House.

Passive investing

It means buying a security to own it long-term.

Who should file MR04?

Any person with an interest in a charge (for example, as a charger or charge) can file Form MR04 at Companies House to remove a charge from the register.

 
What is a registered charge on a property?

The Charges Register contains details of any burdens affecting the property. These can be through mortgages, easements, positive covenants (obligations to maintain a fence or driveway etc.), or restrictive covenants (restrictions on use of the property).

What is a certificate of registration of a charge?

A certificate of registration of a charge is where the property is with the HM Land Registry; the Charge Certificate proves either the transfer of land, or the ownership. The registered proprietor is the person issues with the certificate, this includes both freehold and leasehold interests.

What is a mro1 charge?

The MR01 form is the notification to Companies House that the company has granted a charge in favour of a creditor or a bank. The charge can be a fixed security over a building or, a charge over all of the company's assets, and that charge is called a floating charge.

Can a charge on a property be removed?

When your creditor applies for a temporary charging order, they will also register a charge on your property at the Land Registry; this means you can't sell your property without making your creditor aware. If you can pay back the debt in full at this stage, you can get the charge removed from the Land Registry.

What is a deed of charge?

A deed of charge is a legal document signed by the borrower which is registered against the said property at the Land Registry to notify potential buyers of the existing debt. A legal charge allows a lender to protect the money they have lent to a company or an individual.

If you would like more information, please contact our customer engagement team who would be delighted to assist you further.

Email us: [email protected]

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