Legal mortgage over property from an individual securing specific monies

Resource type: Standard document

Status: Maintained

Jurisdictions: England, Wales

A standard form legal mortgage over a property (often referred to as a "legal charge") granted by an individual borrower in favour of a lender securing specific monies that it owes to the lender.

Note: This standard document can only be used in the prescribed circumstances discussed in the integrated drafting notes as it has been drafted to bring it within one of the categories of exempt agreements for the purposes of the Consumer Credit Act 1974 (CCA 1974). 

Any amendments should be discussed with a specialist in consumer credit since such alterations may take this mortgage outside the definition of exempt agreement.  This would mean that the lender would need a consumer credit licence and this mortgage would need to comply with the provisions of the CCA 1974 to be enforceable without a court order.  This mortgage is not drafted to be compliant with the CCA 1974.

PLC Property, PLC Finance and Russell Kelsall, Squire Sanders Hammonds

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  • Resource ID: 7-505-9609
  • Products:  PLC UK Finance, PLC UK Finance Firmstyle, PLC UK Private Client, PLC UK Property, PLC UK Property Firmstyle, PLC UK Public Sector
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
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