Mortgages are recorded against registered vessels on Part I Merchant & Pleasure and PII Fishing of the Registry. It is possible to register more than one mortgage at any time. Mortgages are ranked in priority according to the date and time of registration. Priority is shown in the registration by use of a letter, for example priority A, priority B.
There are two types of mortgage that can be recorded
We can also record a mortgage of intent which is valid for up to 30 days and can be renewed if required. This is used to secure priority on a mortgage of a vessel that is not yet registered.