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A building society may make an advance to which section 63 applies by means of a mortgage under which the same freehold or leasehold estate constitutes the security both for that advance and for advances made to the same housing association by one or more other persons by means of the same mortgage, but only if—
(a)every other person making an advance by means of that mortgage is another building society, and
(b)the mortgagees in the mortgage all covenant with each other not to transfer their interests as mortgagees to a person who is not a building society.
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