From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to for wider content and updates from UK Finance.


17 October 2017

Time: 10:00am – 1:00pm
Venue: Angel Court, London
Price: £55 (VAT exempt) members members
£99 (VAT exempt) associates
£129 (VAT exempt) non-members
Leasehold issues masterclass

About this event

Lenders are frequently asked to lend against the security of a leasehold property. What additional risks does this carry? How can those risks be avoided or reduced? What happens when the mortgaged property is subject to a lease to a third party? This masterclass will consider the many issues which can arise and the traps for the unwary. 

This event is aimed at:

Solicitors, receivers, conveyancers and anyone working in a lender in-house legal team or legal services.

Feedback from 2016 legal masterclass attendees:

"Very good content and well presented keeping it interesting with plenty of interaction with the group"

"Good event- clear message"

"Clear instruction and presentation which provided the information in an easy to understand way and reconfirmed the appointment and relationship between lender and borrower"

"Useful reiteration of the law and interesting example of the issues that arise in practice"


UK Finance member rate: £55 (VAT exempt) UK Finance associate rate: £99 (VAT exempt)  Non-member rate: £129 (VAT exempt) 


0930 - 1000


Registration and refreshments

1000 - 1015


Adam Rosenthal, Barrister, Falcon Chambers
Oliver Radley-Gardner, Barrister, Falcon Chambers

An overview of the legal issues which a lender might need to consider when lending against the security of a leasehold asset.

1015 - 1100


Traps for the unwary mortgagee
Oliver Radley-Gardner, Barrister, Falcon Chambers

  • Exercise of break clauses
  • Disclaimer following liquidation of the tenant
  • Statutory security of tenure relating to residential and commercial leases
1100 - 1115  


1115 – 1145  

Forfeiture of mortgaged leases
Adam Rosenthal, Barrister, Falcon Chambers

  • Overview of the law of forfeiture
  • The rights of a mortgagee to obtain relief from forfeiture and how to exercise those rights
  • Impact of forfeiture on a lender’s security
  • How a lender might protect itself against the risk of the forfeiture of a leasehold security

Powers of leasing and the effect of surrender on a mortgage
Gary Cowen, Barrister, Falcon Chambers

  • What power does the mortgagor have to lease the mortgaged property ?
  • What is the effect on the tenant of a mortgagee taking possession ?
  • Can the mortgagor accept a surrender of the lease ?
  • The powers of leasing and surrender of the mortgagee in possession
1230 -1300  


Gary Cowen

Barrister, Falcon Chambers

Gary Cowen is a barrister at Falcon Chambers specialising in all forms of real property litigation. Called to the Bar in 1990, Gary also sits as a Judge of the First Tier Tribunal in Land Registration.

Gary’s recent mortgage work includes Dickinson v UK Acorn Finance [2014] EWHC (Ch) 3856  on abuse of process in mortgage possession proceedings, Re Black Ant (in Administration) [2016] EWCA Civ 30 on the meaning of a further advance for the purposes of priorities of mortgages and Co-Operative Bank v Hayes Freehold and others, a case about the validity of a surrender of a leasehold interest without the consent of the mortgagee of the freehold interest.

Oliver Radley-Gardner

Barrister, Falcon Chambers

Oliver Radley-Gardner was called to the Bar in 2003 and has been a tenant at Falcon Chambers since. Before that, he was a research assistant to the Law Commission, working on land registration, co-ownership and trustees’ powers and duties, and then taught land law, trusts and torts at Pembroke and Somerville Colleges, Oxford. He is one of the contributors to Fisher and Lightwood’s Law of Mortgage. He has appeared in a number of mortgage cases including Consolidated Finance v Cook [2010] B.P.I.R. 1331 on fee recovery.

His most recent cases include an agricultural holdings appeal, Downs v Kingsbridge [2017] UKUT 0237, and an appeal concerning an allegation of leasehold conveyancing negligence, Balogun v Boyes Sutton and Perry [2017] EWCA Civ 75. 

Adam Rosenthal

Barrister, Falcon Chambers

Adam Rosenthal has practiced as a barrister at Falcon Chambers since being called to the Bar in 1999. He has appeared in Courts and Tribunals at all levels up to the Court of Appeal. He is a contributor to Fisher & Lightwood’s Law of Mortgage and regularly advises on mortgage-related issues together with all other aspects of property law. Recent cases include A2 Dominion Homes Limited v Prince Evans Solicitors [2015] EWHC 2490 (Ch), about the priority protection afforded by unilateral notices under the Land Registration Act 2002, Levett-Dunn v NHS Property Services Limited [2016] EWHC 943 (Ch) on service of notices under a commercial lease and Dooba Developemnts Limited v McLagan Investments Limited [2016] EWHC 2944 (Ch), about conditional development agreements.

Content developed by

Falcon Chambers

Much mortgage litigation is either about enforcing the security or resolving some issue as to whether the security is effective. Members of Falcon Chambers are all experts in property litigation, so are well placed to assist with mortgage litigation. Members of chambers regularly undertake work on behalf of mortgagees, mortgagors and receivers, ranging from mortgage possession hearings in the County Court to appeals raising complicated issues of principle at the highest levels. Recent high profile cases include McDonald v McDonald, CA and SC: a receiver can serve a s 21 notice on the borrower’s tenant. Members have also conducted substantial trials in mortgage fraud cases, dealt with cases raising issues of undue influence/duress, and regularly consider questions of subrogation/alternative remedies where the security is defective and priority questions arise. They also have expertise in Consumer Credit Act issues.

Falcon Chambers are a set of 10 QCs and 30 “junior” barristers, based near the Temple in London. Their members write the leading text: Fisher & Lightwood’s Law of Mortgage. Many members sit as part time judges. Their former members include Lord Neuberger (President of the Supreme Court).   

Angel Court

5th Floor, 
1 Angel Court
London EC2R 7HJ

Nearest tube stations: (Approx. 5 minutes walk)

Liverpool Street (Central line, Circle, Hammersmith & City and Metropolitan, London Overground and TfL Rail)

Bank (Central, DLR, Northern, Waterloo & City lines)

Moorgate (Northern line)

Nearest overground:

Liverpool Street, Moorgate



Contact us

Jenna Yeap

Telephone: 020 7706 3333

Supported by