The court can make an order for possession in favour of the second mortgagee, subject to the rights of a prior mortgagee. Where the first mortgagee grants a tenancy of the mortgaged property, the second mortgagee will be bound by that tenancy and will not be entitled to possession as against that tenant.
 EWCA Civ 1158, (1999) 78 P and CR 321
England and Wales
Cited – The Co-Operative Bank Plc v Phillips ChD 21-Aug-2014
The bank had brought possession proceedings against the defendant under two legal charges securing personal guarantees. The proceedings had been abandoned, but the court now was asked whether costs for the defendant should be on the standard or . .
These lists may be incomplete.
Updated: 19 May 2021; Ref: scu.146073