Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Mortgage definition

What does Mortgage mean? In practice, a mortgage is the security taken by a lender over land (and fixtures) to secure repayment of a loan or other obligations. It gives the mortgagee proprietary rights in the borrower’s property, affecting priority, registration and enforcement. The term is used descriptively across property, banking and insolvency law and is shaped by statute and case law. England & Wales and Northern Ireland: a mortgage over registered land is usually a legal charge created by deed with the statutory effect of a mortgage (for example, under the Law of Property Act 1925 and NI equivalents). Equitable mortgages can arise,...

UK mortgage conduct: MCOB 11, 11A, 12 and 13—responsible lending, charges, arrears and repossessions; affordability, interest-only, Consumer Duty, and FPC LTI flow limit updates to 2026

Published by a LexisNexis Financial Services expert

Practice notes

This Practice Note outlines the responsible Lending and funding obligations, together with the provisions on charges, Arrears and repossessions, found in the Financial Conduct Authority’s (FCA’s) Mortgages and Home Finance: Conduct of Business sourcebook (MCOB), specifically MCOB 11, MCOB 11A, MCOB 12 and MCOB 13. It also addresses the Bank of England’s Financial Policy Committee (FPC) loan‑to‑income (LTI) flow cap, designed to avert material, significant and unsustainable growth in household debt levels. For further information on other aspects of MCOB and related guidance, see Practice Notes: Mortgage and home finance conduct of business: application and general requirements, Mortgage and home finance conduct of business—financial promotion and communications regime, and Mortgage and home finance conduct of business: distribution and disclosure requirements, which provide additional detail.

Application of MCOB 11, MCOB 11A, MCOB 12 and MCOB 13

MCOB 11

The rules in MCOB 11 concerning responsible lending and financing apply to 'mortgage lenders' (ie firms which have permission to enter into regulated mortgage contracts (RMCs) in their entirety). Home purchase plan (HPP) providers (ie firms with permission to enter into HPPs) and mortgage administrators must also observe a range of relevant provisions within MCOB 11...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...