Mortgages

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Precedents
Transfer of partPrecedent transferAn adaptable Word version of the precedent form TP1 can be downloaded, saved or printed from this link:Drafting...
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9th Nov
Practice notes
There can be only one lease at a time giving a right to possession and occupation of property. Consequently, if a landlord subsequently grants a lease...
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9th Nov
Precedents
An adaptable Word version of this Precedent can be saved, downloaded or printed from this link:Completion statement—saleThis Precedent is a template...
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9th Nov
Practice notes
TrespassTrespass is the unlawful presence of a person on land in the possession of another. The ownership of land includes the airspace above it....
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9th Nov
Precedents
[To be printed on Landlord’s letterheaded paper]Our Ref:Date:To: [insert name of Tenant]From: [insert name of previous Landlord] [of [insert address]...
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9th Nov
Precedents
Panel 11 (transfer of whole)/panel 12 (transfer of part)—Additional provisions1Definitions[Lease•the lease particulars of which are set out in...
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9th Nov
Practice notes
Vitiation of an insurance policyAn insurance policy may be vitiated (or invalidated) if the insured:•misrepresents or fails to disclose any material...
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9th Nov
Practice notes
The ‘ad medium filum’ rule is a rebuttable presumption that an owner of land which abuts either:•a public or private highway, or•a non-tidal river or...
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9th Nov
Practice notes
Subject to contractIf a party who strikes a bargain wishes to make it clear that it does not intend to enter into a binding contract until a formal...
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9th Nov
Practice notes
Consecrated land—Church of EnglandFor the purposes of this section of this Practice Note, consecrated land means any land or building which has been...
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9th Nov
Practice notes
What is a rent deposit?A rent deposit is a sum of money that is deposited by a tenant when it takes a lease of premises as security against the...
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9th Nov
Practice notes
Official search with priority—registered land or seller’s title pending first registrationHow and when to search?An official search with priority will...
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9th Nov
Practice notes
The second edition of the Standard Commercial Property Conditions came into force on 1 June 2004 and these conditions are incorporated into many...
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9th Nov
Practice notes
A benevolent fund is an institution, including a body of trustees, which holds funds on trust for the purpose of relieving poverty amongst a defined...
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9th Nov
Practice notes
Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes...
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9th Nov
Practice notes
Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely...
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9th Nov

Most recent Mortgages content

Practice notes
A ‘mortgage cure’ clause (or ‘mortgagee protection’ clause) provides some protection to lenders in relation to the landlord’s rights to forfeit a...
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8th Apr
Practice notes
When an individual is adjudicated bankrupt, their property (with the exception of an interest in various short-term residential tenancies in certain...
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8th Apr
Practice notes
In real estate finance transactions, the property is the main asset of the borrower and the security package taken by the lender will be based around...
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8th Apr
Practice notes
The general prohibitionResidential mortgages provided in the course of a business potentially fall within the Financial Services and Markets Act 2000...
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8th Apr
Practice notes
Land Charges searches are not required for dealings with registered land, but if you are acting for a lender in connection with a charge over an...
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8th Apr
Practice notes
This Practice Note deals with the extent of a valuer’s liability to buyers, sellers and mortgagees for inaccurate valuations, including the margin of...
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8th Apr
Practice notes
UK FinanceAs of 1 July 2017, the finance and banking industry operating in the UK is represented by a new trade association called UK Finance. It has...
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8th Apr
Practice notes
Joint and several liabilityWhere a covenant is given by two or more persons, they may be liable:•jointly•severally, or•jointly and severallyThe...
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8th Apr
Practice notes
Effect of appointmentAn administrative receiver is appointed by the holder of a floating charge (often referred to as a debenture and which may also...
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8th Apr
Practice notes
If a charity is proposing to:•mortgage property that it owns, or•acquire property with mortgage financethere are a number of issues that a prospective...
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8th Apr
Practice notes
VariationA registered charge must be varied by deed. The application to register the deed must be made:•in the prescribed form, and•by or with the...
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8th Apr
Practice notes
Nature of mortgages and chargesMortgages and charges are distinct forms of security. A mortgage can be legal or equitable and involves the transfer of...
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8th Apr
Practice notes
A charity may be excepted from registration if it:•is excepted by Order of the Charities Commission (and complies with any conditions), and•has a...
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8th Apr
Practice notes
The Building Societies Association (BSA) is a trade association which represents mutual lenders and deposit takers in the UK including all 45 UK...
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8th Apr
Practice notes
Effect of appointmentA fixed charge receiver is appointed under a legal charge or mortgage and only has power to deal with and dispose of the charged...
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8th Apr
Practice notes
Defective title insurance policies, or policies covering breach of restrictive covenants, usually contain conditions relating to the disclosure of the...
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8th Apr
Practice notes
Stamp dutyCheck that each document prior to 1 December 2003 has been correctly stamped. Where necessary, ask the seller to apply for late stamping at...
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8th Apr
Practice notes
Registered proprietor of the landWhile the proprietor of a registered estate subject to a registered charge is:•in possession, and•subject to any...
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8th Apr
Practice notes
Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written...
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8th Apr
Practice notes
A valuer estimates or assesses the worth or value of, or fixes a price for, a property. The note does not cover the liability of a valuer acting as an...
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8th Apr

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