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Products & Services

Gap Coverage

In many European countries, the registration process for a mortgage entry into the Land and Mortgage Register can take up to 2 to 6 months. Gap Cover permits the lending bank to disperse funds at the point of application of the mortgage to the Land and Mortgage Register, effectively eliminating funding delays.

Gap Coverage is a contract of indemnity that provides the lending bank the assurance that their mortgage will be registered in the Perpetual Book and the bank will have first priority position.

The Gap Cover includes protection from any competing third party claim, guaranteeing that third party should be registered as the owner/holder of all or part of the property ahead of the policy holder. Effectively it is a short term Guaranty of Title, ensuring the landowner can register the mortgage on the property that they have acquired.

The Gap policy is effective from the point of application of the mortgage to the Perpetual Book.

Please contact your regional office for more information.