Section 80A MortgagesF1

This section applies if—

The value, at the material time, of the property obtained as a result of or in connection with the person’s criminal conduct is to be taken to be the amount found using the following formula—

where—

• A is the amount of the loan;

• B is the value of the interest in land at the time it was purchased;

• C is the amount by which the interest in land has increased in value between that time and the end of the loan period.

The value of the interest in land at the beginning and end of the loan period is to be found in accordance with section 79.

If the loan period ends before the material time, the amount found under subsection (2) is to be adjusted to take account of changes in the value of money between the end of the loan period and the material time.

In this section—

• “the loan period” is the period between the time when the loan is obtained and the earlier of—

  1. (a)

     the time when the principal, and any interest due, is repaid, and

  2. (b)

     the material time;

• “the material time” is the time the court makes its decision.