A mortgage is a conveyance of land as security for
payment of debt1,
in other words, a loan from the mortgagee (lender) secured by property from the
mortgagor (borrower). A commercial mortgagor is one who secures a loan for
business purposes. Mortgage terms refer to the provisions within a contract
that both parties are expected to adhere to. It could be argued that the law
fails to adequately protect the commercial mortgagor from unfair mortgage
terms, however this depends on what ‘unfair’ is viewed as in regard to
commercial mortgagors. This essay will consider current protections provided
for a commercial mortgagor by law and whether these satisfy the standard of ‘fair’.

1 Stantley v Wilde 1899 2 Ch 474.

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