§ 54. Sir FRANCIS LOWEasked whether, having regard to the difficulty occasioned by the War of selling or raising money on mortgage of any form of real property, the Government will consider the desirability of introducing legislation to suspend the powers of mortgagees to call in their mortgage moneys until the War is over, subject of course to the due performance of the mortgage covenants in other respects?
§ The PRIME MINISTERAs pointed out by my right hon. Friend the Chancellor of the Exchequer, in an answer to the hon. Member for Blackburn on July 21st, under the provisions of the Courts (Emergency Powers) Act mortgagees cannot call in mortgages without the leave of the Court, which has discretion to postpone the date of payment if the mortgagor is unable to pay the mortgage debt immediately, and such inability is due to circumstances attributable directly or indirectly to the War. I doubt whether it would be equitable for Parliament to interfere further between mortgagor and mortgagee.
§ Sir F. LOWEIs there anything in the Courts (Emergency Powers) Act to prevent a mortgagee entering into possession of mortgaged property and selling it over the mortgagee without any application being made to the Court at all?
§ The PRIME MINISTERI should like notice of that question.