A mortgage deed usually includes a covenant to insure the security. A mortgagee1 by deed has power2 at any time after the date of the deed to insure, and keep insured, against fire any building, effects or property of an insurable nature comprised in the mortgage3, and the premiums paid are a charge on the mortgaged property, in addition to the mortgage money, with the same priority and so as to carry interest at the same rate as the mortgage money4. The amount of the insurance effected must not exceed the amount specified in the mortgage deed, or, if
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234