Mortgage law is out of date. The mortgage of today has little in common with the formative years of mortgage law when two local individuals dealt with each other to create a loan and security. Now an individual wishing to borrow money inevitable deals with a big commercial operation which makes sure that all contractual terms are in their favour, and they seek to clog the equity of redemption. Broadly discuss this statement.Discuss Deregulation v Regulation.Common Law and analyse Australian Legislation.Talk about the Codes and Conclusion.Have Prominent Case Law through out