Mortgages for Part 1 and Part 2

Mortgage Registration

Mortgages can be recorded against registered vessels on Part 1, Merchant and Pleasure or Part 2, fishing vessels. 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 mortgages that can be recorded:

• Account current
• Principle sum

Documents required for mortgage registration

Please note that you will need to print off and sign any documents, as we cannot accept digital signatures.  

• Account Current MSF 4736
• Principle Sum  MSF 4737  
• Online payment of £101 via GOV.UK secure payment link or £201 for a premium service, to register each mortgage

If you need a Transcript of Registry following the registration of the mortgage, you need to pay an online payment of £29 via GOV.UK secure payment link.

To avoid any delay, mortgages can be registered using clear copies of the mortgage deed and the copy can be emailed to us. We are unable to officially endorse copies of the original deed. If you wish to forward the original deed to us after mortgage registration to be endorsed, we are happy to do so.

If you prefer to send the original mortgage deed for registration, please use the postal address at the bottom of this page. 

Mortgage intent

We can also record a mortgage of intent. This is used to secure priority on a mortgage of a vessel before the mortgage is fully executed. A mortgage intent is valid for up to 30 days and can be renewed if required.

Documents required for mortgage intent

• Notice of mortgage intent MSF 4739
• Online payment of £37 via GOV.UK secure payment link or £87 for a premium service, for each mortgage intent registration or renewal of a mortgage intent. A mortgage intent will not show on a Transcript of Registry 

Removing a mortgage from a vessel registration (mortgage discharge)

Mortgages can be removed using clear copies of the mortgage deed emailed to us, however we are unable to officially endorse copies of the original deed. We can accept a copy of the deed to remove the mortgage to avoid delay. If you wish to forward the original deed to us after mortgage discharge to be endorsed, we are happy to do so.

If you prefer to send the original mortgage deed for registration, please use the below postal address.

There is no fee to remove a mortgage from the Registry, however If you require a Transcript of Registry following the discharge of the mortgage, you will need to pay a fee of £29. 

If your mortgage deed has been lost

If the original mortgage deed has been lost or destroyed, we can still remove a mortgage from a vessel's registration. To remove without the original or a copy of the original deed, please provide a letter from the mortgage provider (mortgagee) which includes the following information:

• Mortgage priority
• Date mortgage executed
• Date mortgage registered
• Full details of mortgagor (full name and address)
• Full details of mortgagee (full name and address)
• Date mortgage has been released
• Reason original mortgage deed cannot be sent
• Confirmation that all dues have been paid 

Power of Attorney

Mortgage deeds can be completed under Power of Attorney (PoA). If a deed if executed in this way, for the mortgage to be registered or removed we require a copy of the PoA. The PoA document would need to be relevant to the vessel and include:  

• The Official Number or International Maritime Organization (IMO) number
• Vessel name
• Details of what process is permitted under PoA
• The names and signatures of relevant parties  
• Date the PoA was signed 

Closed vessel registration and mortgages

The Merchant Shipping Act 1993 allows a vessel registration to be removed or closed on the UK Ship Register whilst a mortgage is registered. The vessel registration closing shall not affect any entry made in the register relating to any undischarged registered mortgage of that ship or of any share in it. The mortgage shall continue to be registered and show on transcript documents until a mortgage is formally discharged and removed.