There are some 11.2 million mortgages in Britain but how many people actually understand what one is?
A mortgage literally means, ‘Dead Pledge’: late Middle English: from Old French, literally ‘dead pledge,’ from mort (from Latin mortuus ‘dead’) + gage ‘pledge.’
A pledge is a promise. A mortgage is a dead promise.
On its face, it seems very straightforward – a man receives a loan, called a mortgage, for a property and, in so doing, agrees to pay it back within a set period, usually 25 years. Should he fail to do so, the creditor (the lender) claims the right to take his property by way of the registered charge created by his signature on the Mortgage Deed, which forms his sincere promise to pay.
However, it is more complex than many of us would imagine.
What if you were told that, as a matter of fact, no loan had taken place?
You might ask,
’How could that be? The bank loaned me the money and I used it to buy the house and the land. I borrowed their money, therefore, I have to pay it back.’
However, this is an illusion. How?
The bank (the mortgagee) did not actually loan you any of its own money. Most money is created as debt in the form of ‘loans’ and every ‘loan’ is created as a ‘promise to pay’ – just like the Bank of England notes in your wallet.
How does this work? The key document is the mortgage deed. When you sign it, you are acknowledging, without any evidence, that you have received a sum of money. You are also falsely and unlawfully advised to sign it before you are the owner of the property. It is false on the simple basis that no one can place a charge on a property which is not theirs at the time the deed was signed.
This document is also a valuable financial instrument to the bank (the mortgagee). In fact, being a promise to pay, it is as good as cash to the banker who takes it and deposits it in a special account which he never tells you about. In this sense, you are, in fact, the creditor. Your signature has created the line of credit which is streamed from that account and used to buy the property.
The mortgage deed is the keystone in an elaborate fraud, a financial racket that is revealed in the ‘shockumentary’ film, ‘#TheGreatBritishMortgageSwindle.
The banker is, quite literally, creating the money out of thin air by way of strokes on a computer keyboard. No deposits are loaned, neither out of the bank’s vaults or from customers’ accounts.
Once the deed is signed, but always undated, at a time when you are not the owner, have received no moneys and have no written contract with the bank (as required at law) the swindle moves into full swing. The banker misrepresents the facts by falsely claiming you borrowed money, then compound interest is added on top of the fake loan and, in the event you fail to make the payments for 3 consecutive months, it will instruct its solicitors to make a false possession claim against you which will invariably result in the house – the purchase of which, remember, you funded – being stolen by way of a fake County Court Order.
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