Built environment industry responses to the Spring Statement 2025
Following the publication of the Spring Statement on 26 March 2025, several built environment industry bodies have released their responses.
Mortgages are the form of security most commonly encountered in practice by property practitioners. Our content on mortgages includes the following Practice Notes:
Mortgages and land—an introduction to mortgages and legal charges over land
Mortgages and land—entering into new mortgages and legal charges of land
Mortgages and land—dealings with land subject to a mortgage or legal charge
Mortgages and land—enforcement of mortgages and legal charges over land
For our content on other types of security, such as charges, pledges and liens, see Practice Note: Types of security.
A mortgage is a transfer of an interest in property by way of security for a debt. It is subject to an express or implied provision which requires the lender to transfer the property back to the borrower when the borrower’s obligations have been discharged.
A legal mortgage over land must be created in accordance with the Law of Property Act 1925 (LPA 1925) which means, in practice, that it must be created by way of a charge by way of legal mortgage. This is the effect of LPA
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