Mortgage Receivership: Law and Practice

Foreword to the Second Edition
Preface to the Second Edition
Table of Cases
Table of Statutes
Table of Statutory Instruments
Table of European Material
Table of Non-Statutory Material
List of Abbreviations
1INTRODUCTION
2MORTGAGE LAW
Introduction
What is a mortgage?
The history of mortgages
The Law of Property Act 1925
The Land Registration Act 2002
Legal and equitable mortgages
Redemption
Statutory powers of leasing and surrender
Transfer by the borrower
Transfer by the lender
The lender’s remedies
A money claim
The right to preserve the security
Possession
Sale
Power of attorney
Appointment of receivers
3STATUTORY RESTRICTIONS ON ENFORCEMENT
Introduction
Insolvency
Sanctions
The effect of the borrower’s designation on the lender’s remedies
The breathing space and mental health crisis moratoria
4CONSUMER PROTECTION LEGISLATION
Overview of regulatory framework
The regulatory regime for mortgage contracts under the FSMA 2000
and the MCOB
FCA regulation
Consumer buy-to-let mortgage regime under the MCD Order 2015
The CCA 1974
The effect of the CCA 1974 on the steps required to enforce a mortgage
Unfair credit relationships
5APPOINTMENT
Preconditions to appointment
The identity of the receivers
Formalities for appointment of receivers
Formalities immediately following the appointment
Consequences of acting under an invalid or defective appointment
6KEY THEMES
What powers do receivers have?
Does the borrower retain his property rights?
The deemed agency
7THE RECEIVERS’ RELATIONSHIP WITH THE BORROWER
Introduction
Historical origins of the agency
When the deemed agency arises
The nature of the deemed agency
Loss of deemed agency
Summary of the deemed agency
Power of attorney
8THE RECEIVERS AND THE LENDER
Before the appointment
After the appointment
Impact of invalid or defective appointment
The lender’s liability for the receivers’ acts and defaults
9THE RECEIVERS AND THIRD PARTIES
Introduction
The borrower’s pre-existing contracts
Occupiers
Landlords
Neighbours
New relationships
The receivers’ liability in tort
Statutory liabilities
10THE RECEIVERS’ POWERS
Introduction
LPA and fixed charge receivers
The statutory regime
Collection of income
Delegated powers
Power to insure
Common powers of fixed charge receivers
Receivers acting beyond their powers
11POSSESSION
Introduction
The receivers’ power to take possession
Particular classes of occupier
Possession procedure
Duties
The receivers in possession
12SALE AND THE RECEIVERS
Introduction
The receivers’ power of sale in the mortgage condition
The receivers with power to sell as the borrower could
Sale under a power of attorney
The receivers exercising the lender’s power of sale
A hybrid: contract under borrower’s power with conveyance
by lender
The borrower’s death or insolvency and sale
Restrictions on sale
The receivers’ duties on sale
13USE AND DISTRIBUTION OF FUNDS COLLECTED
Income
The borrower’s power of sale
The lender’s power of sale
Sanctions
14TERMINATION
Modes of termination
After termination
15LITIGATION
General preliminaries
Receivers’ application for directions
The receivers as claimant in their own right
Claims where the receivers rely on receivership powers
Adverse claims made by third parties
Adverse claims brought by the borrower or the lender
APPENDIX
TERMINATION OF LEASES
Types of tenancies
Types of termination
Statutory continuation of tenancies

Index