Q&As

Where a debt has been secured by way of a charge (registered form CH1) over the debtor’s residential property (rather than a court order) and the debtor has defaulted what is the correct action to seek an order for sale?

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Published on LexisPSL on 07/10/2016

The following Property Q&A provides comprehensive and up to date legal information covering:

  • Where a debt has been secured by way of a charge (registered form CH1) over the debtor’s residential property (rather than a court order) and the debtor has defaulted what is the correct action to seek an order for sale?

Pursuant to section 101 of the Law of Property Act 1925 (LPA 1925), a legal mortgagee has a right to sell the property, free from the mortgagor’s interest at the time when the mortgage sum becomes payable. This is the legal date for redemption and will be set out in the mortgage deed.

This statutory power can be limited or modified within the mortgage deed, although the modification will o

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