A mortgage is the security a lender takes over land to make sure a debt gets repaid — and it sits behind almost every house purchase, remortgage and secured business loan. As a solicitor, you will act for borrowers and lenders alike, so you need to know how a mortgage is created, who its rights bind, what happens when payments stop, and how it is finally cleared from the title.
This lesson builds that picture step by step, from creation through to discharge.
- Nature and Creation of Mortgages — what a mortgage is and how a valid legal or equitable mortgage comes into being.
- The Equity of Redemption — the borrower's protected right to repay and recover the property free of the mortgage.
- Priority and Beneficial Interests — who ranks first between competing lenders, and how trust interests and occupiers affect a lender.
- Home Rights and Undue Influence — when a spouse's rights bind a lender and the steps a lender must take to avoid being tainted by pressure on a surety.
- Possession and Receivership — the lender's right to take possession and appoint a receiver on default.
- Power of Sale and Other Remedies — when a lender can sell, the duties owed, and how sale proceeds are applied.
- Redemption and Discharge — what must be paid to redeem and how the charge is removed from the register.