Most buyers cannot purchase property without borrowing, so finance runs through almost every transaction you will handle. As a solicitor you need to understand how a lender secures its loan against the property, what happens if the borrower can't pay, and where the lines of regulation fall — because giving the wrong kind of advice, or missing a duty to a lender, carries real consequences. This lesson builds that picture step by step, from the charge itself to the practical job of acting for both sides at completion.
What this lesson covers:
- The Legal Charge and its Creation — what a charge is, how it's created and registered, and how priority between lenders is decided.
- Lender's Remedies on Default — the options a lender has when a borrower stops paying, including sale, possession and the personal covenant.
- Regulated Mortgage Contracts — the conditions that make a mortgage regulated, and where buy-to-let lending fits.
- Solicitors and Regulated Advice — the line between explaining and recommending, and the exemption that lets firms carry on incidental regulated activities without FCA authorisation.
- Repayment Structures and Interest Rates — capital, interest-only, standard variable rates and early repayment charges.
- Valuation, the Mortgage Offer and Acting for Both Parties — what the valuation protects, and your duties when you act for borrower and lender together.