The legal charge that secures a property loan, the regulatory limits on mortgage advice, and the products and processes a borrower meets along the way.
Behind almost every property purchase sits a loan, and behind the loan a structure of security, regulation and professional duty. The chapter starts with the legal charge — how it is created, the borrower's equity of redemption and how priority is settled between competing charges on the same title — before setting out the remedies open to a lender on default, from the power of sale and appointing a receiver to suing on the personal covenant. It then turns to regulation: when a mortgage counts as a regulated mortgage contract, including the buy-to-let distinctions, and how the s 327 FSMA exemption polices the line between generic explanation and regulated advice from an unauthorised solicitor. The final sections cover the products and process themselves — capital repayment and interest-only structures, standard variable rates and early repayment charges — together with the lender's valuation, the mortgage offer and the duties owed when one solicitor acts for both borrower and lender.
