A Bill to amend the Law of Property Act 1925 to require a mortgagee to obtain the court’s permission before exercising the power of sale, where the mortgaged land consists of or includes a dwelling-house; to make certain powers available to the court in actions by mortgagees for possession of a dwelling-house; and for connected purposes.
This Bill would amend the Law of Property Act 1925 to ensure that before a mortgagee (lender) can exercise their power of sale, the court must have first given its permission. The aim of the Bill is to give home-owners additional protection against repossession actions.