Frequently asked questions

What does 1st mortgage security mean?

Finance is usually arranged between a borrower/buyer and investor/s. An investor will be given 1st mortgage security for property that is financed. This is recorded by a solicitor in a mortgage deed and lodged with the Land Title Office.

So if borrowers do not meet their obligations, investors will have the right to sell the property. The outstanding loan amount will be repaid to the investor from the proceeds of the sale. The investor gives Briqwise power of attorney to take care of everything related to the recovery process and the sale of the property.