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Purchase and leaseback schemes – are they binding on a lender?

1 February 2012 | Jackie Hanlon Comments Off

This appeal concerned nine test cases involving purchase and leaseback schemes whereby owners of properties (“the Vendors”) had sold their homes to purchasers (“the Purchasers”), who had promised...

Tags on this discussion: charge mortgage overriding interests sale and leaseback

Resolving costs payable in respect of a mortgage

6 January 2012 | Steven Mills Comments Off

Where a bank takes steps to enforce a mortgage against the borrower, a bank is usually entitled to recover all of its costs including solicitor’s costs from the borrower on a full indemnity basis. ...

Tags on this discussion: account charge legal costs mortgage solicitors act 1971

What happens if a legal mortgage over a residential property is taken in breach of the Financial Services and Markets Act 2000?

18 May 2011 | Steven Mills Comments Off

Where the underlying main loan secured on land is to be used in connection with a dwelling by the borrower, then it will be a regulated mortgage contract. Section 23 (1) of the Financial Services and...

Tags on this discussion: charge enforcement FSA FSMA mortgage regualated

The Directive on credit agreements relating to residential property

5 May 2011 | Karen Jacobs Comments Off

The European Commission has published proposal for a directive on credit agreements relating to residential property. Please see link. http://ec.europa.eu/internal_market/finservices-retail/docs/credit/mortgage/com_2011_142_en.pdf The...

Tags on this discussion: charge charges Directive European Commission mortgage Mortgage repossession mortgages Repossession

Undue influence – again?

3 March 2011 | Clare Stothard Comments Off

This case dealt with very familiar arguments which a wife may raise when a bank seeks to enforce a guarantee and legal charge against her. In September 2001, Mrs Chandra gave a guarantee in favour...

Tags on this discussion: banking banks charge guarantee misrepresentation mortgages retail banking undue influence

Overriding interests

18 November 2010 | Karen Jacobs Comments Off

This recent case considered whether a person who had an overriding interest can be taken to have authorised a charge and so be bound by it. Mrs Qutb had suffered from Alzheimer’s disease for a number...

Tags on this discussion: agency banking banks charge estoppel mortgage overriding interests

The impact of settling a case in a multi-party situation

10 November 2010 | Karen Jacobs

What happens if you reach a settlement with one party, but not others? In this case, Chelsea Building Society had repossessed and then sold a property, but then wished to pursue the mortgagors for...

Tags on this discussion: banking banks charge co-defendant debtor joint joint and several liability multi-party settlement

Breach of solicitors’ duty

20 October 2010 | Karen Jacobs Comments Off

Money was advanced by the claimant lender to the defendant solicitors with respect to a purchase of a property in Barnet. The claimant sent the firm of solicitors a standard certificate of title. The...

Tags on this discussion: banking banks charge Fraud mortgage mortgages tort trustees Trusts

High court rules on subrogation

14 October 2010 | Steven Mills Comments Off

Where moneys advanced by a lender are used to pay off an earlier security, can the lender be subrogated to the rights under that earlier security so that it obtains priority over later charges? On...

Tags on this discussion: banking banks charge charging order equitable charge legal charge subrogation

Can trustees’ right to be indemnified out of trust assets for all expenses reasonably and properly incurred and to have a lien over trust assets rank in priority to a bank’s security?

1 July 2010 | Steven Mills Comments Off

Although the trustees, in this case, did not assert any general principle that a trustees’ lien for their own expenses should prevail over the bank’s registered rights as mortgagee, they asserted...

Tags on this discussion: charge debenture priority receivers security trustees

Latest news and views tagged charge

Purchase and leaseback schemes – are they binding on a lender?

Resolving costs payable in respect of a mortgage

What happens if a legal mortgage over a residential property is taken in breach of the Financial Services and Markets Act 2000?

The Directive on credit agreements relating to residential property

Undue influence – again?

Overriding interests

The impact of settling a case in a multi-party situation

Breach of solicitors’ duty

High court rules on subrogation

Can trustees’ right to be indemnified out of trust assets for all expenses reasonably and properly incurred and to have a lien over trust assets rank in priority to a bank’s security?

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