Section Sch2-1 — Property Law Act 2007: Payment of principal amount and interest

1 Payment of principal amount and interest (1) The mortgagor will pay to the mortgagee the principal amount secured by the mortgage at the time and in the manner specified in the mortgage or any other instrument. (2) The mortgagor will pay to the mortgagee interest on the principal amount and all other amounts secured by the mortgage, from the date on which all or any of those amounts are advanced by the mortgagee, or otherwise attract interest, until the date of their payment,— (a) at the agreed rate (if any) specified in the mortgage or any other instrument; and (b) at the times and in the manner specified in the mortgage or any other instrument. (3) If the mortgagee obtains judgment against the mortgagor for an amount owing under the mortgage, the mortgagor will pay to the mortgagee interest on the amount, at the agreed rate (if any) at which interest is payable on the principal amount secured by the mortgage, from the date of judgment until the date of payment of the sum awarded by the judgment. Compare: 1952 No 51 Schedule 4 cl 1