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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...
Resolving costs payable in respect of a mortgage
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. ...
The Chancellor’s Autumn Statement: good and bad news for homebuyers
There was good and bad news for homebuyers in the Chancellor’s recent Autumn Statement.
The introduction of a new-build indemnity scheme, aimed at increasing the supply of affordable mortgage finance...
Enforcing a suspended possession order following subsequent default
Where a borrower makes an arrangement with a lender following a possession order for arrears to be added to the loan, but then the borrower subsequently falls into arrears again, is the lender entitled...
What happens if a legal mortgage over a residential property is taken in breach of the Financial Services and Markets Act 2000?
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...
The Directive on credit agreements relating to residential property
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...
Overriding interests
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...
The ability to marshall
Where one debtor owes different debts to two or more creditors, but one of the creditors can enforce its claim against more than one security and the other can only resort to one, the equitable principle...
Breach of solicitors’ duty
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...
Undue influence
Can a court make a finding of actual undue influence even if this is not pleaded? Even where a finding of undue influence is made, if one part of the transaction is not affected by the undue influence,...