All lending by the Southern Cross Financial group (“SCFG”) is secured. If you have borrowed from SCFG then the loan will be secured by a mortgage or a security interest over property owned by you and/or your guarantor.
The mortgage or security interest will give SCFG the right to sell that property to repay any money you owe SCFG including fees.
If SCFG sells the property and SCFG does not recover all money that you owe to SCFG, then you will still be responsible for paying the amount of any shortfall.
The mortgage also gives SCFG the right to enter into possession of the property if you fail to pay money due to SCFG when it is due. SCG will give you notice of this first.