A mortgage document is a legal agreement where shares are transferred from the borrower to the lender as security for the repayment of a loan.

Variation to Mortgage

Variation to an Open Mortgage

When additional loan is granted and secured under an existing open mortgage on shares, the Stamp Duty payable is the difference between $500 and the duty previously paid.

No further duty is payable if the existing open mortgage has been stamped for the maximum amount of $500.

Variation to a Fixed Mortgage

Where the amount secured under a mortgage of shares is fixed, the mortgage will be stamped based on the fixed amount of the secured loan. This is subject to a maximum duty of $500.

When additional loan is subsequently granted and a further mortgage of the same shares is executed to secure the additional loan, the further mortgage is treated as a fresh security and is liable to full duty. This is also subject to the maximum duty of $500.

Exemption from Stamp Duty for Mortgage

When the shares are used as a security and the document is signed under hand, it is exempted from Stamp Duty.


Equitable mortgage is an agreement or a memorandum 'under hand'. This means the agreement is signed but not under seal. Equitable mortgage on shares relates to the creation of a charge on the shares to secure the payment or repayment of money.

Rates and computation


From 22 Feb 2014


0.4% of the loan amount granted on the mortgage
(subject to a maximum duty of $500)

Variation to Mortgage

0.4% of the loan amount granted on the mortgage
(subject to a maximum duty of $500)

Equitable Mortgage

Exempted from stamp duty

Transfer, Assignment or Disposition of any Mortgage or Debenture

0.2% of the amount transferred, assigned or disposed, inclusive of interest which is in arrear
(subject to a maximum duty of $500)

Example 1: Assume a loan amount of $250,000 is granted on the mortgage

Mortgage Duty
= 0.4% x $250,000
= $1,000
= $500.00 (maximum duty)