Section 87 — Property Law Act 2007: Mortgage secures advances for protection and realisation of security

87 Mortgage secures advances for protection and realisation of security (1) A mortgage over property secures all amounts reasonably paid or advanced at any time by the mortgagee— (a) for the protection, insurance, maintenance, preservation, or repair of the mortgaged property; or (b) to remedy any default by the mortgagor in respect of any other mortgage or encumbrance over the property, to the extent that it has priority over the mortgagee’s mortgage; or (c) for the payment of rates or other outgoings; or (d) to meet the expenses of the mortgagee in entering into possession, or in doing anything that a mortgagee in possession is required or entitled to do; or (e) with a view to the realisation of the security (including any additional amount referred to in section 120(2) or 129(2) ). (2) A mortgage over property secures all interest on any amounts paid or advanced for all or any of the purposes referred to in subsection (1) at the agreed rate (if any) at which interest is payable on the principal amount secured by the mortgage.