Mortgages

Question 0

Abbey National Building Society v Cann (1991)

Answer 0

There is no scintilla temporis between a purchaser’s acquisition of title and subsequent creation of mortgage over that property that has enabled purchase to take place.

Question 1

Santley v Wilde (1889)

Answer 1

Definition of a mortgage:
The mortgagee is treated as if he has acquired such an interest and gets the same protection, powers and remedies as a mortgagee who does in fact take conveyance.

Question 2

Vedalease Ltd v Cascabel Investments LTD (2009)

Answer 2

Remedy available to the mortgagee for failure of repayment is to sue mortgagor personally on the contract for repayment of sum borrowed + interest + other costs.