(also known as Equipment Loan, Commercial Loan, Specific Security Agreement)

A Chattel Mortgage is a commercial finance product where the customer takes ownership of the asset (chattel) at the time of purchase. How does a Chattel Mortgage work?

Under a Chattel Mortgage the financier advances funds to the customer to purchase an asset, and the customer takes ownership of the asset (chattel) at the time of purchase.

The financier then takes a “mortgage” over the asset as security for the loan, by registering their interest over it with the PPSR.
Once the contract is completed, the security interest is removed giving the customer clear title to the asset.


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