280 Concession for mortgage duty—particular trusts
(1) This section
applies if—
(a) the trustee of a trust, other than a discretionary or unit
trust, gives a mortgage to secure an advance to the trustee, all or part of
which is used, or to be used, to repay the balance outstanding under a
previous mortgage over a home; and
(b) the beneficiaries are individuals all
of whom are under a legal disability; and
(c) the residence is the home of
all or some of the beneficiaries.
(2) This division applies as if—
(a) the
mortgage were a home refinance mortgage; and
(b) the beneficiaries were the
home refinance borrowers under it; and
(c) the beneficiaries were the owners
of the home.
