Mortgages

Mortgages - Land Law Flowchart

Master mortgages with ease with this flowchart that breaks down mortgages step-by-step in English & Welsh land law. From how a mortgage is created under the Law of Property Act (LPA) 1925, different types of legal mortgages and the differences in mortgages for registered and unregistered land. 

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Key Topics Covered:

Types of Mortgages:-

1. Leasehold Mortgage: A sub-lease just short of the original lease term.

2. Charge by Deed (Legal Mortgage): The most common form today—especially post Land Registration Act 2002—applicable to both freehold and leasehold estates.

Registered vs. Unregistered Land

• Registered land: Mortgages must be registered under s27 LRA 2002 to bind buyers.

• Unregistered land: First legal mortgage triggers compulsory registration.

Mortgagee Rights & Remedies

• Including possession, appointing a receiver, power of sale, sueing for debt and foreclosure. 

• Responsibilities when selling.

• Priority rules for mortgages. 
  

Human Rights Considerations

• Article 8 (right to home) and Article 1 (property) are often overridden if borrower defaults (Horsham Properties v Clark).