article_snippet.sent: In England, it is possible to secure such rights by a fixed charge, but in Scotland, the equivalent of an English fixed charge can only be granted over heritable property — land and buildings.
article_snippet.sent: Accordingly, a practice has developed of lenders taking absolute transfers subject to a back-letter setting out that the transfer is in security and the property will be returned when the loan facility has been repaid.
article_snippet.sent: This is a common device adopted by most of the UK banks and lenders.