I was reffering generally to the ability of a lender to let a property in a poor market, the case of palk v mortgage services funding plc[1993] CH330 was in execeptional circumstances.(posted 7706 days ago)The rent payable would not have covered the interest and there was no real prospect of the property value rising in the short term so as to offset it.
Reffered to in this case was Lord templeman in the china & south sea bank matter in which he stated "A mortgagee can sit back and do nothing. He is not obliged to take steps and realise his security), it was however just and equitable to intervene and he did make an order under the LPA 1925.
A court will usually be reluctant to interfere with a decision made by a mortgagee not to realise the security immediately, particularily where realisation would result in a loss being sustained, it may do so if it is satisified there are execptional circumstances.
In the case raised by Mark, the mortgagee did nothing wrong by refusing the offers made. Having offers made so early on and selling too early could insinuate that the lender sold the property without giving due consideration to the sale price it may have achieved had it waited a number of weeks before considering sale.