Mortgage

The paper is a legal document - Mortgage Deed. The Deed clearly stated out the obligations and duties of the borrower, the mortgagee, and the bank, the mortgator. There is a Clause in the Deed that if the payments are overdue by the borrower, the bank will then has the legal right to foreclose the property for public auction for the repayment of the mortgage loan. The bank can still demand any remaining balance still not covered by the money from the auction.
For any mortgage on the property, a legal charge document has to be made and filed with the Land Registry. So, any person can noted this in the land search and be aware of it.