The Government has announced it will not bring forward the Goods Mortgages Bill as it does not have time. A lender can take security over a chattel – usually a car – by taking a security bill of sale and registering it at court. Bona fide purchasers who don’t search at court take subject to them, and so assume repurchase risk: caveat emptor. Bills of sale apply to individuals, not corporates, and are rarely encountered in major law firms. They used to be rare but numbers have rocketed – from 3,000 in 2001 to about 37,000 in 2016.