What Is the Mortgage and Charge Register?
When a UK company grants a mortgage, debenture, or other charge over its assets as security for a loan, it must be registered at Companies House within 21 days of creation. This creates a public record of the charge, protecting the lender's priority position and informing other potential creditors of existing security interests. The requirement is set out in Part 25 of the Companies Act 2006.
Failure to register a charge within the 21-day deadline means the charge is void against a liquidator, administrator, or other creditors — the lender loses their priority. Late registration is possible only with a court order, which adds cost and uncertainty.
Types of Company Charges
| Charge Type | Assets Covered | Company Can Sell Assets? | Priority |
|---|---|---|---|
| Fixed charge | Specific assets (property, machinery, intellectual property) | No — lender consent required | Higher priority in insolvency |
| Floating charge | Changing pool of assets (stock, debtors, cash) | Yes — until crystallisation | Lower priority; prescribed part applies |
| Debenture | Typically both fixed and floating over all assets | Depends on specific terms | Fixed portion has higher priority |
A floating charge 'crystallises' into a fixed charge on certain trigger events — most commonly when the company goes into administration, a receiver is appointed, or the charge terms are breached. Once crystallised, the company can no longer deal freely with those assets.
What the Charges Register Reveals
The charges register is a valuable source of corporate intelligence. It reveals a company's debt structure, lending relationships, and secured creditors. Companies with many outstanding charges may have limited borrowing capacity or be highly leveraged. The identity of the 'person entitled' (the lender) shows which banks and financial institutions have exposure to the company.
Satisfied (fully repaid) charges remain on the register but are marked with a satisfaction date. This historical record shows the company's borrowing patterns over its lifetime. A company that has never registered a charge may be self-funded or may operate in a sector where asset-backed lending is uncommon.
Charges in Insolvency
In insolvency, the distinction between fixed and floating charges becomes critical. Fixed charge holders are paid first from the specific assets covered by their charge. Floating charge holders rank behind preferential creditors (employees, pension trustees, and since December 2020, certain HMRC debts). Additionally, the prescribed part — up to £800,000 ring-fenced from floating charge realisations — is set aside for unsecured creditors.
How UVAGATRON Uses Charge Data
UVAGATRON integrates Companies House mortgage data covering 2.5 million charge records across 805,000 UK companies, providing insight into corporate debt patterns, secured lending relationships, and financial risk indicators. Charge data feeds into our risk scoring system — companies with many outstanding charges, recent charge registrations, or charges from non-traditional lenders may warrant closer scrutiny.