Latest news and views tagged mortgages
RSS
There could be some further good news for potential homebuyers from an unexpected source.
Following on from the Government’s recent introduction of a new-build indemnity scheme to help purchasers...
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...
Undue influence – again?
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...
Sale and leaseback schemes
The court was asked here to determine preliminary issues in 9 test cases concerning the controversial sale and lease back schemes. These schemes enabled the occupiers of property to sell their property...
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,...
Possession proceedings – statistics published
During the first quarter of 2010, 18,504 possession proceedings were issued, which was 24% lower than the first quarter of 2009.
14,373 mortgage possession claims led to orders being made, which was...
The Office of Fair Trading (“OFT”) has published a consultation on sections 77/78/79 of the Consumer Credit Act 1974– duty to give information to debtors and the consequences of non-compliance on the enforceability of the agreement
The OFT is consulting on guidance because of concerns that some debtors are being misled into thinking that these sections can be used to get their debts written off and that some creditors are not following...
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...
Mortgages – Power of sale and residential property consultation
The Ministry of Justice has today published a consultation paper on mortgages - power of sale and residential properties. It ends on 28 March 2010.
The consultation was launched in response to the case...