With an Asset Protection Trust where Non-Real Assets are involved, is a Mortgage Deed generated?

No Mortgage Deed is generated, but we would put PPSR over the assets via Eventum Optimum or We Love Legal. 

Eventum Optimum:

https://lightyeardocs.com.au/eo-mortgage-ppsr/https://lightyeardocs.com.au/eo-mortgage-ppsr/

Also, you can only put a mortgage over real property. For other assets such as cars, artwork, plant and equipment, jewellery, etc., these need to have PPSR. However, you need to be careful when doing it to ensure they are protected or equity are covered in them.