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 www.ukfinance.org.uk for wider content and updates from UK Finance.

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  4. Replacing Bills of Sale: a new Goods Mortgages Bill consultation on draft clauses

Replacing Bills of Sale: a new Goods Mortgages Bill consultation on draft clauses

Last updated: 7 Aug 2017

Consulting body:
Law Commission
Status:
Closed
Period of consultation:
Runs from 10 July 2017 to 7 August 2017
CML action:
Response submitted


The Law Commission is holding a limited consultation on the available draft clauses from the Goods Mortgages bill.

Law Commission have asked specifically for comments on the proposals around relative priority of goods mortgages and land mortgages.

UK Finance response

In response to this consultation, we have recommended that, given the complexities which arise in terms of priority of goods mortgages and land mortgages, fixtures should be excluded from the definition of goods.

The full UK Finance response can be downloaded below.