New Charge

A new charge in the context of real estate or finance generally refers to the creation or registration of a new legal claim, lien, or encumbrance against a property, typically in the form of a mortgage or other type of security interest. This “charge” is a legal right granted by the property owner (the borrower) to a lender or creditor, which allows the lender to claim the property or its proceeds if the borrower defaults on the loan or obligation.