Generally, a lien arising from an improvement to a premises has priority over other security, such as mortgages, conveyances and other agreements affecting the owner’s interests in the premises. For example, lien claimants have priority over building mortgages for any deficiency in the statutory holdback that the owners must maintain. If a mortgage was registered after the first work was done, or the first materials were supplied to the improvement, or after the first lien arose, all liens arising from the improvement will have priority over the mortgage to the extent that there is any deficiency in the statutory holdback.