Enforcement

Enforcement guidance:

Sale by a mortgagee destroys the equity of redemption in the mortgaged property. The sale defeats the rights of all subsequent incumbrancers, whose remedy then is only...

Practice Note

Date[insert date of appointment] Parties 1 [insert name of Lender] of [insert address][incorporated in England and Wales with company registration number [insert company...

Precedents

Repayment covenant A claim under the repayment covenant in the principal mortgage can be made against any covenantor, whether principal or surety. Whether or not a...

Practice Note

Impact of appointment The effect of the appointment of an LPA/fixed charge receiver is very different from that of an appointment of an administrator, liquidator or...

Practice Note

This Practice Note considers some issues that may arise in the context of the enforcement of security by the appointment of a receiver over property that is subject to a...

Practice Note

Security over land can be taken by way of mortgage or charge with the appropriate form often depending on the significance of the land to the borrower's business or the...

Practice Note

This Practice Note covers the rights and responsibilities of a mortgagee in possession. Rights A legal mortgagee has a right to possession of the property. However, this...

Practice Note

A legal mortgagee has a right to sell the property, free from the mortgagor’s interest. However, this statutory power can be limited by contract, although most modern...

Practice Note

So long as the equity of redemption remains vested in the mortgagor, the mortgagee may not sell the property except under an express or implied power of sale, or under a...

Practice Note

Whether or not a mortgagee deed includes an express power, the Law of Property Act 1925 confers a statutory power of sale on lenders. The Administration of Justice Act...

Practice Note

The general prohibition Residential mortgages provided in the course of a business potentially fall within the Financial Services and Markets Act 2000 (FSMA 2000) general...

Practice Note

In this Practice Note, ‘borrower’ and ‘mortgagor’ are used interchangeably, as are ‘lender’ and ‘mortgagee’. This Practice Note also applies to fixed charges (although...

Practice Note

Overreaching is a statutory mechanism available to a mortgagee (amongst others) to confer title on the buyer free from charges and encumbrances ranking subsequent to the...

Practice Note

The Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal mortgage to appoint an LPA receiver. This right may alternatively (and more usually will) arise...

Practice Note

Receivers—background Receivers have been a recognised in English law as a remedy available to creditors and others wishing to protect their interest in assets since the...

Practice Note

Powers—general The statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his appointing mortgagee...

Practice Note

Powers—general The statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his appointing mortgagee...

Practice Note

The Mortgage Repossessions (Protection of Tenants etc) Act 2010 (MR(PT)A 2010) applies where a landlord of a mortgaged property grants a residential tenancy without...

Practice Note

A debtor under a regulated consumer credit or consumer hire agreement may be granted more time by the court to repay the debt if it is just to do so. The court may amend...

Practice Note