ABSTRACT
This chapter provides a non-exhaustive list of the different types of mortgage in general use, although it must be remembered that all are 'mortgages' within the Law of Property Act (LPA) 1925 are governed by that Act and the principles of registration found in the Land Registration Act 2002. It discusses the creation of mortgages where the borrower owns a legal estate in the land and mortgages it in return for a loan. Where the 'informality' arises because of a failure to register the mortgage as required, the mortgage is equitable by force of statute. The deposit of the mortgagor's title deeds was treated as both evidence of a contract and 'part-performance' of that contract under the section 40 of the LPA 1925. Equitable mortgages may exist when there is a mortgage of an equitable interest, when there is an informal mortgage of a legal interest, under the rules for equitable charges, and via the operation of proprietary estoppel.
