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Return to Property Law 14e Student Resources
Chapter 9 Multiple choice questions
Mortgages
Quiz Content
*
not completed
.
Your client has decided to take a fixed rate mortgage with Barclays Bank plc. The interest rate is fixed for three years and there is an early redemption penalty. When advising your client on the contents of the mortgage deed, which of the following would you generally
not
include in your advice?
That if the client repays the mortgage within the first three years the lender can charge an interest penalty.
correct
incorrect
That the lender has the right to call in the loan and sell the property if the borrower defaults on the mortgage.
correct
incorrect
That your client will be unable to let the premises without the lender's prior consent.
correct
incorrect
That the initial rate of interest and monthly payments may be varied by the lender at any time.
correct
incorrect
*
not completed
.
It is generally accepted that a solicitor should not give mortgage advice to a client because of the risk of contravening the Financial Services and Markets Act 2000.
Is this statement true or false?
True
correct
incorrect
False
correct
incorrect
*
not completed
.
A solicitor should ensure that following completion of a legal charge of registered land, the mortgage is registered at HM Land Registry within 30 working days of completion
True
correct
incorrect
False
correct
incorrect
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