Research and analysis

From Bills of Sale to Goods Mortgages

This is the Law Commission's final draft Goods Mortgages Bill with analysis. It is intended to replace the Bills of Sale Acts.


From Bills of Sale to Goods Mortgages

From Bills of Sale to Goods Mortgages (Print file)


Bills of sale are a way in which individuals can use goods they already own as security for a loans or other obligations, while retaining possession of those goods. They are governed by two Victorian statutes, dating from 1878 and 1882.

In September 2014, HM Treasury asked the Law Commission to review the Bills of Sale Acts.

In 2016 a Law Commission report recommended that the Bills of Sale Acts should be repealed and replaced with modern legislation that imposes fewer burdens on lenders and provides more protection for borrowers.

Now, having worked closely with stakeholders and built wide support, this report presents the final version of the proposed new Goods Mortgages Bill.

It outlines recommendations and explains how they developed in response to consultations.

Further information on this Law Commission project is available on the Law Commission website.

Published 24 November 2017