Document background
The Loan and Mortgage Agreement is a fundamental document in property financing transactions in Ireland, used when a lender provides financial assistance for property purchase or refinancing, secured against the property itself. This agreement is essential for both residential and commercial property transactions, combining the personal obligation to repay the loan with the creation of security over the property. The document must comply with strict Irish regulatory requirements, including consumer protection measures, banking regulations, and property law. It is designed to protect both the lender's security interest and the borrower's rights under Irish law, incorporating mandatory provisions from the Consumer Credit Act, Central Bank regulations, and EU directives on mortgage credit. The agreement serves as both the primary loan document and the security instrument, creating a legally enforceable charge over the property while setting out the complete terms of the lending arrangement.
