The relationship of mortgagor and mortgagee is terminated by redemption, foreclosure, or the accounting for the proceeds of realisation, and proceedings for any of these purposes involve the taking of an account between the mortgagor and mortgagee1. In such an account the mortgagor is debited with principal and interest2, and also with the costs, charges and expenses incurred by the mortgagee in relation to the mortgage security3. It may be necessary first to construe the mortgage deed, and in the case of a building society mortgage also the society's rules4, in order to settle the basis of the account.
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