Declaration of a Mortgage

Declaration of mortgages are required for housing loan applications.
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Housing loan applications usually require a declaration of a mortgage. The declaration normally includes acknowledgements of financial commitments, of transferability, and of higher lending charges,

Acknowledgement of Financial Commitments

The mortgage declaration includes a clause stating the signor's acknowledgment of new or additional financial commitments as a result of obtaining the mortgage. This clause includes a statement clarifying the risk of losing the home due to failure to make mortgage payments.


A declaration of mortgage usually contains a clause specifying the signor's ability to transfer or assign interests he may have in the mortgage.

Higher Lending Charge

Some lenders require the mortgage declaration to acknowledge a possible higher lending charge under certain conditions. This higher charge is applied to loans exceeding a certain percentage of loan to value.

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