05) Security Flashcards
1
Q
Ideally what four properties will godd security hold?
A
01) Easy to take
02) easy to value
03) readily realisable
04) of increasing or stable value
2
Q
What rules will have to be followed if taking a residential property as security?
A
MCOB rules established by FSA now with FCA. provides dispute resolution, compensation procedure and complaints procedure.
only for residential purpose property.
3
Q
Types of Charge -
A
legal is the full works with legal documents produced
Equitable is a agreement document showing the bank can create the charge when they want to.
