A peculiar case of priorities – Hardwicke Chambers

Posted June 26th, 2014 in appeals, banking, land registration, mortgages, news, notification by sally

‘In Bank of Scotland v Joseph [2014] EWCA Civ 28, 1 P & Cr 18, the Court of Appeal was faced with an issue of priority in relation to a unilateral notice. It arose out of a rather curious set of facts.’

Full story

Hardwicke Chambers, 4th June 2014

Source: www.hardwicke.co.uk

Comments Off

Taxman wins fight to close property tax loophole – Daily Telegraph

Posted June 16th, 2014 in appeals, housing, mortgages, news, stamp duty, taxation by sally

‘A High Court ruling has sided with the taxman over legislation introduced last year which aims to stop wealthy property buyers avoid paying tens of thousands of pounds in stamp duty.’

Full story

Daily Telegraph, 13th June 2014

Source: www.telegraph.co.uk

Comments Off

Get informed – New Law Journal

Posted June 11th, 2014 in divorce, financial advice, mortgages, news by sally

‘Natasha Phillips underlines the importance of mortgage capacity assessments in divorce proceedings.’

Full story

New Law Journal, 6th June 2014

Source: www.newlawjournal.co.uk

Comments Off

Court of Appeal puts law firm in the dock after being duped in mortgage fraud – Legal Futures

Posted February 25th, 2014 in appeals, conveyancing, fraud, law firms, mortgages, news by sally

‘The Court of Appeal has overturned a ruling which excused from liability a law firm which was duped into releasing £150,000 of mortgage funds.’

Full story

Legal Futures, 25th February 2014

Source: www.legalfutures.co.uk

Comments Off

Tommy Robinson, former EDL leader, jailed for fraud – BBC News

Posted January 24th, 2014 in fraud, mortgages, news, sentencing by sally

‘Former English Defence League leader Tommy Robinson, whose real name is Stephen Yaxley-Lennon, has been jailed for 18 months for mortgage fraud.’

Full story

BBC News, 23rd January 2014

Source: www.bbc.co.uk

Comments Off

Some limitations on setting aside vulnerable mortgage transactions – 11 Stone Buildings

Posted January 22nd, 2014 in limitations, mortgages, news, setting aside, undue influence by sally

‘The landmark decision of the House of Lords Royal Bank of Scotland v Etridge (No 2) [2002] 2 AC 773
described the circumstances which render a lending transaction by a bank vulnerable to a challenge for undue influence and provided guidance to bankers as to which steps they would need to take in order to protect their lending, and any security to be taken, from challenge. Several cases decided since Etridgehave demonstrated the breadth of the scope for challenge where bankers have failed to follow the guidance, while others have highlighted some constraints on effective challenges based upon undue influence. Jeremy Cousins QC discussed this topic at a recent lecture of the Chancery Bar Association and shares his thought in this detailed ‘Insider’.’

Full story

11 Stone Buildings, January 2014

Source: www.11sb.com

Comments Off

Thousands of ‘right to buy’ negligence cases piling up against conveyancers – Legal Futures

‘Law firms are facing thousands of claims for professional negligence over their involvement in “right to buy” work, it has emerged.’

Full story

Legal Futures, 27th November 2013

Source: www.legalfutures.co.uk

Comments Off

Power of sale – can the mortgagee be forced to wait? – New Square Chambers

Posted November 5th, 2013 in Crown, jurisdiction, mortgages, news, sale of land, Turks and Caicos Islands by sally

“In Temple Mortgage Fund Ltd v Att-Gen for the Turks and Caicos Islands (unreported, Supreme Court of the Turks and Caicos Islands, 26 July 2013), until just before the trial the only issue appeared to be the timing of the mortgagee’s exercise of its power of sale. However, at a very late stage the Defendant raised a further issue, namely whether certain provisions in the Plaintiff’s charge were binding on the Crown at all. Both issues were determined in favour of the Plaintiff.”

Full story (PDF)

New Square Chambers, 31st October 2013

Source: www.newsquarechambers.co.uk

Comments Off

A negative note – New Square Chambers

Posted November 5th, 2013 in appeals, debts, mortgages, news, repossession, sale of land by sally

“As everyone knows, a mortgagee may go into possession before the paper has cooled down after coming out of the printer, or something like that. But under modern conditions, and particularly with residential mortgages, the strictness of this rule is reduced or removed by agreement or the impact of statute. Even so the principle that the mortgagee is entitled to possession and the limits on the court’s power to deny him that entitlement means that a mortgagor in distress may have very little control over his fate.”

Full story (PDF)

New Square Chambers, 31st October 2013

Source: www.newsquarechambers.co.uk

Comments Off

NCA suffers Supreme Court defeat on assets recovery marshalling claim – 11 Stone Buildings

“On 23 October 2013, the Supreme Court gave judgment in Szepietowski v. the National Crime Agency (formerly the Serious Organised Crime Agency, ‘SOCA’). The case is now the leading authority on the marshalling of securities and will be of interest to those advising banks and other businesses involved in secured lending. The case, however, will also be of general interest in light of the Court’s consideration of the principles applicable to the construction of settlement agreements which involved the Court distinguishing the decision of the House of Lords in Bank of Credit and Commerce International v. Ali [2002] 1 AC 251.”

Full story (PDF)

11 Stone Buildings, 23rd October 2013

Source: www.11sb.com

Comments Off

National Crime Agency v Szepietowski and another – WLR Daily

Posted October 30th, 2013 in appeals, assets recovery, debts, equity, law reports, mortgages, proceeds of crime by sally

National Crime Agency v Szepietowski and another [2013] UKSC 65; [2013] WLR (D) 408

“The equitable remedy of marshalling was not available where the security held by the second chargee did not secure an underlying personal debt of his to the chargor. Therefore the National Crime Agency, having agreed to take a second mortgage over a property in settlement of its claim that it had been purchased by its owner with the proceeds of crime, could not, when the sale of the property only realised sufficient funds to pay off the debt secured under a first mortgage to a bank, require the bank to enforce its security against another property mortgaged by the owner to that bank.”

WLR Daily, 23rd October 2013

Source: www.iclr.co.uk

Comments Off

Landlords threaten legal action over mortgage rates – BBC News

Posted October 28th, 2013 in contracts, interest, landlord & tenant, mortgages, news, rent by sally

“Buy-to-let landlords are threatening to take legal action against what they say are unjustified interest rate rises.”

Full story

BBC News, 26th October 2013

Source: www.bbc.co.uk

Comments Off

Szepietowski (Nee Seery) (Appellant) v The National Crime Agency (Respondent) – Supreme Court

Szepietowski (Nee Seery) (Appellant) v The National Crime Agency (Respondent) [2013] UKSC 65 | UKSC 2011/0196 (YouTube)

Supreme Court, 23rd October 2013

Source: www.youtube.com/user/UKSupremeCourt

Comments Off

The Importance of Being Earnest – NearlyLegal

“We have seen Santander having trouble in mortgage possession proceedings in Northern Ireland recently. Here is another example which could perhaps, indeed maybe should, have been avoided, if the lender had actually taken proceedings sufficiently seriously.”

Full story

NearlyLegal, 11th October 2013

Source: www.nearlylegal.co.uk

Comments Off

Mortgage companies’ additional data reporting must serve a valid purpose and be limited to a necessary volume, says ICO – OUT-LAW.com

Posted September 10th, 2013 in data protection, mortgages, news, privacy by tracey

“The Financial Conduct Authority (FCA) should review the necessity of asking mortgage providers to provide it with additional personal information about customers in order to ensure those individuals’ privacy rights are respected, a data protection watchdog has said.”

Full story

OUT-LAW.com, 9th September 2013

Source: www.out-law.com

Comments Off

Four jailed for ‘breathtaking’ mortgage fraud in north Wales – BBC News

Posted September 9th, 2013 in fraud, inquiries, mortgages, news, sentencing by tracey

“A former police officer has been jailed for seven years at Mold Crown Court for leading the biggest mortgage fraud in north Wales, worth up to £24m.”

Full story

BBC news, 6th September 2013

Source: www.bbc.co.uk

Comments Off

Interest-only mortgage providers must treat struggling borrowers fairly, warns regulator – OUT-LAW.com

Posted September 2nd, 2013 in codes of practice, consumer protection, interest, mortgages, news by sally

“Mortgage providers must be able to demonstrate that they have treated customers fairly in cases where those individuals are unable to repay the capital sum owed at the end of the term on an interest-only mortgage, the Financial Conduct Authority (FCA) has said.”

Full story

OUT-LAW.com, 30th August 2013

Source: www.out-law.com

Comments Off

Liquidators are not data controllers under the Data Protection Act 1998 – Technology Law Update

Posted September 2nd, 2013 in bankruptcy, data protection, liquidators, loans, mortgages, news by sally

“The High Court has found that liquidators under a voluntary liquidation are not data controllers for the purposes of the Data Protection Act 1998 (“DPA” or “Act”) and so are not personally responsible for compliance with the Act.”

Full story

Technology Law Update, 2nd September 2013

Source: www.technology-law-blog.co.uk

Comments Off

The Master across the water – NearlyLegal

Posted August 28th, 2013 in housing, mortgages, news, Northern Ireland, repossession by sally

“Santander (UK) Plc v McAtamney and other cases [2013] NIMaster 15 is, as the neutral citation should reveal, a case from Northern Ireland, decided by a Chancery Master. It is not, therefore, a binding authority on the law of England and Wales. Nevertheless, it is very interesting and, as we’ll see, highly persuasive.”

Full story

NearlyLegal, 27th August 2013

Source: www.nearlylegal.co.uk

Comments Off

Emptage v Financial Services Compensation Scheme Ltd – WLR Daily

Emptage v Financial Services Compensation Scheme Ltd: [2013] EWCA Civ 729; [2013] WLR (D) 242

“Where a broker had negligently advised a client to take out an interest-only mortgage and make an investment in foreign property in the expectation that the investment would pay off the entirety of the mortgage, the Financial Services Compensation Scheme Ltd was required to take into account both elements of the advice when assessing the client’s compensation for the broker’s breach of duty as a mortgage adviser under the scheme’s rules.”

WLR Daily, 18th June 2013

Source: www.iclr.co.uk

Comments Off