Both charge and mortgage are different from one another with a charge being a collateral for the payment that is due and if one fails to pay, then a charge comes into play. Whereas Mortgage is the transfer of an interest in an immovable asset.
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References
- https://core.ac.uk/download/pdf/7074676.pdf
- https://www.actuaries.org.uk/system/files/documents/pdf/mortprepayrpt.pdf