Charge merger permits filing Form 17 instead of Form 141 when the earlier charge is extinguished, subject to lender consent. Where an original mortgage charge is merged into a subsequent larger secured loan and the later agreement stipulates that the earlier charge is suspended ... Summary
Charge merger permits filing Form 17 instead of Form 141 when the earlier charge is extinguished, subject to lender consent.
Where an original mortgage charge is merged into a subsequent larger secured loan and the later agreement stipulates that the earlier charge is suspended or extinguished, the original charge ceases to subsist independently. In such cases the company may file Form No. 17 instead of Form No. 141, provided the lender has no objection to satisfaction of the prior instrument and to treating the new document as a fresh charge.
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