CreditWiseConfident Decisions
Release & Redeposit Memorandum
Used to extend equitable mortgage when adding new lenders or creating fresh joint mortgage for consortiums.
Memorandum Designer
Step 1 of 31
Basic Info2
Banks & Loans3
SchedulesConstructive Delivery
Constructive redeposit is a legal fiction where the physical deeds don't leave the bank, but the intent is updated to cover new facilities. Ensure this is explicitly stated by the borrower.
Legal Best Practice
This memorandum is essential when transitioning from multiple banking to consortium lending for security extension.