Chattel Mortgages

What is a chattel mortgage?

A chattel mortgage is a business finance product where the customer takes ownership of the asset being financed at the time of purchase.

How does a chattel mortgage work?

Under a chattel mortgage the finance provider funds the purchase of the asset. The customer takes ownership of the asset at the time of purchase.

The financier then takes a mortgage over the asset as security for the loan.

Once the contract is completed, the mortgage is removed giving the customer clear title to the asset.

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