Mortgage arrears handling
The Financial Services Authority has published proposals to strengthen existing rules on arrears handling.
The key arrears proposals:
Make plain that firms must not add early repayment charges...
Sector
Banking & Finance Litigation
We act for a wide range of domestic and foreign banks, building societies, financial institutions and lease and asset-based lenders. Our work in this area involves litigation and dispute resolution in claims for and against our clients. Our expertise includes constructive trust claims, breach of trust and mandate, professional negligence, secured and unsecured recoveries, mortgage repossession, fraud and operational loss recovery, title and security issues, Consumer Credit Act, asset and sales finance, and more general commercial disputes.
Key team contacts
Steven Mills 01923 215036
steven.mills@mablaw.com
Clare Stothard 01923 690033
clare.stothard@mablaw.com
Latest news and views about Banking & Finance Litigation
RSSLitigation project management – a new way of estimating costs
The Jackson report on Civil Litigation costs has proposed a host of important reforms. One recommendation which seems very likely to be implemented is a new standard form costs estimate for multi-track...
Lord Justice Jackson’s report on costs in civil litigation
Lord Justice Jackson’s report on costs in civil litigation has been published today. His proposals make dramatic reading.
The headline proposals are as follows:
Conditional fees. These are...
What is the impact if a signature on a guarantee has not been authorised?
If the signature is not authorised then the guarantee is not effective. Section 4 of the Statute of Frauds Act 1677 provides that a guarantee must be in writing and signed by the guarantor or a person...
Triumph of common sense – copy of consumer credit agreement
Can debtors avoid paying their debts under the Consumer Credit Act 1974 ("the Act") if a bank is unable to provide an exact copy of the agreement?
Judge David Waksman held that the banks could satisfy...
Office of Fair Trading drops investigation into bank charges
The Office of Fair Trading ("OFT") has decided to drop its investigation into the fairness of bank charges.
This decision comes after the Supreme Court decision last month in which the banks successfully...
When is a loan agreement unfair?
The claimant had lent the defendant sums totalling £56,450 between 1979 and 1983. Between 1982 and 2001, the defendant made payments totalling £72,336, but according to the claimant, interest had continued...
Bank’s duty of care
This case considered complaints that the bank had failed to act in accordance with normal banking practice and that it had not complied with advertisements which stated that there were locally based agricultural...
Bank takes subject to beneficial interest
The court found that the bank took subject to the occupier's beneficial interest in the property as they failed to make inquiry of him. Paragraph 2 of schedule 3 to the Land Registration Act 2002 provides...
