Power to create mortgage

Without prejudice to this Act respecting legal and equitable powers, every power to mortgage or to lend money on mortgage of an estate in fee simple or of a term of years absolute or of an easement, right or privilege, or of any other interest in or over land shall be construed as a power to mortgage the estate or the term, or the easement, right or privilege, or the other interest in or over land by a charge by way of legal mortgage or to lend on such security. mort- gages.