Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

security definition

What does security mean? In legal practice, security means money or other assets provided as a guarantee that a legal obligation will be performed, with forfeiture if it is not. In criminal proceedings, it most often refers to a cash deposit or equivalent required as a condition of bail to secure a defendant’s attendance at court and compliance with bail; failure to surrender may lead to forfeiture. The concept and procedures are set by bail legislation and court rules in each jurisdiction. Practice varies: in England & Wales and Northern Ireland, courts commonly take recognisances, with or without sureties, and may require a...

Security in lending transactions under English law: creation, asset scope, documentation, perfection, priority and enforcement

Published by a LexisNexis Banking & Finance expert

Practice notes

This Practice Note offers a concise introduction to security and addresses the following:

what security is
why lenders take security
who may grant security
which assets can be the subject of security
what forms of security can be granted
what perfection is and why perfecting security matters
other steps a lender can take to improve its place in the order of priority

In this Practice Note, the term ‘security provider’ means the person or entity that creates security over its assets. The term ‘secured party’ means the person or entity that benefits from that security. The secured party is commonly a lender under a loan, and this Practice Note proceeds on the basis that security is taken in connection with a Lending Transaction. Security, however, may support any form of indebtedness.

Introductory guide to security — key takeaways

Security interests confer rights over identified assets of a borrower or a third party, giving lenders proprietary rights that underpin enforcement and recovery.
Taking security strengthens a lender’s position by enabling enforcement, improving priority on insolvency, and providing control if the borrower defaults.

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Web page updated on 21/05/2026

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