Queen’s Speech confirms that unfair rules on logbook loans are being sent to the scrapheap – Law Commission

Posted June 22nd, 2017 in bills, loans, news, parliament, press releases, repossession by tracey

‘The Law Commission welcomes plans outlined in today’s Queen Speech to close a legal loophole which means buyers of second-hand vehicles are at risk of having them repossessed due to unfair logbook loans.’

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Law Commission, 21st June 2017

Source: www.lawcom.gov.uk

New payday loan regulations come into force – BBC News

Posted May 26th, 2017 in advertising, internet, loans, news by tracey

‘New payday loan regulations come into force on Friday, requiring all online lenders to advertise on at least one price comparison website.’

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BBC News, 26th May 2017

Source: www.bbc.co.uk

Southwark LBC v Akhtar and Stel LLC – Arden Chambers

‘The Upper Tribunal has held that an estimated service charge that had not been demanded in accordance with a lease would not have been payable but for the lessee taking out a loan from the lessor to pay it and thereby waiving strict compliance with the terms of the lease; s.7, Interpretation Act 1978 does not apply to notices served under the Landlord and Tenant Act 1985 unless a lease provides that s.196 Law of Property Act 1925 is to apply to the service of notices’

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Arden Chambers, 20th April 2017

Source: www.ardenchambers.com

High Court again overturns SDT ruling that cleared solicitor over Axiom fund borrowing – Legal Futures

Posted May 12th, 2017 in disciplinary procedures, loans, news, solicitors by sally

‘The High Court has overturned a decision by the Solicitors Disciplinary Tribunal (SDT) to clear a solicitor who borrowed money from the controversial Axiom Legal Financing Fund of charges of misconduct – five months after a ruling that cleared two other solicitors who took an Axiom loan was also reversed.’

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Legal Futures, 11th May 2017

Source: www.legalfutures.co.uk

City watchdogs could ban ‘irresponsible’ car loans in new investigation – Daily Telegraph

Posted April 19th, 2017 in banking, consumer credit, financial regulation, loans, news by tracey

‘”Irresponsible” car loans will be probed by the City watchdog amid suggestion that drivers could soon be made to pass mortgage-style affordability tests before leasing new motors.’

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Daily Telegraph, 18th April 2017

Source: www.telegraph.co.uk

Supreme Court clarifies distinction between ‘advice’ and ‘information’ negligence cases – OUT-LAW.com

Posted March 29th, 2017 in drafting, law firms, loans, mistake, negligence, news, Supreme Court by sally

‘A law firm that made a mistake when drafting a loan letter on its client’s instructions, and failing to draw critical information to his attention, was not liable to that client when the loan failed. The client would have made a loss on the loan in any event due to his commercial misjudgments, the UK’s highest court has ruled.

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OUT-LAW.com, 29th March 2017

Source: www.out-law.com

Supreme Court hold law firm not liable for client’s commercial misjudgement – Legal Futures

Posted March 24th, 2017 in drafting, loans, negligence, news, solicitors, Supreme Court by sally

‘The Supreme Court has upheld a ruling that a law firm which had been negligent in drawing up a loan facility agreement was not legally responsible for their client’s decision to actually make the loan.’

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Legal Futures, 23rd March 2017

Source: www.legalfutures.co.uk

FCA seeks reforms in 2017 to some crowdfunding rules – OUT-LAW.com

Posted December 12th, 2016 in disclosure, financial regulation, loans, news by sally

‘The Financial Conduct Authority (FCA) will seek to address potential investor detriment by outlining proposed reforms to crowdfunding rules in the early part of 2017, the regulator has said.’

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OUT-LAW.com, 9th December 2016

Source: www.out-law.com

FCA to crack down on crowdfunding – The Guardian

Posted December 9th, 2016 in financial regulation, loans, news by sally

‘The City regulator has announced a crackdown on crowdfunding – the fast-growing sector that lets businesses and individuals raise money from online investors.’

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The Guardian, 9th December 2016

Source: www.guardian.co.uk

Committal Applications in the Absence of the Defendent: Two Recent Cases, By Ashley Cukier – Littleton Chambers

Posted November 9th, 2016 in committals, disclosure, evidence, loans, news by sally

‘Ashley Cukier considers two recent judgments of the High Court (Alfa Bank v Reznik [2016] EWHC B21 (Comm) and Taylor v Van Dutch Marine & Others [2016] EWHC 2201 (Ch)), which demonstrate the courts’ willingness, if the circumstances justify it, to hear committal applications in the absence of the defendant.’

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Littleton Chambers, 6th October 2016

Source: www.littletonchambers.com

FCA to investigate banks’ high-cost credit including overdrafts – The Guardian

Posted November 3rd, 2016 in banking, competition, fees, financial regulation, loans, news by tracey

‘The City regulator is to launch an investigation into loans that charge high interest rates in a move that will also wade into the controversy over fees on overdrafts. The decision by the Financial Conduct Authority (FCA) to look at overdraft charges comes after the Competitition and Markets Authority stepped back from imposing a limit on these fees after a two-year investigation into high-street banking.’

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The Guardian, 3rd November 2016

Source: www.guardian.co.uk

Update ‘archaic’ laws to protect used car buyers, says Law Commission – The Guardian

Posted September 12th, 2016 in consumer credit, Law Commission, legislation, loans, news, repossession by sally

‘Anyone buying a secondhand car privately is in danger of having it repossessed without warning by finance companies under “archaic” Victorian legislation, the Law Commission has warned.’

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The Guardian, 12th September 2016

Source: www.guardian.co.uk

Does a judge have to consider Article 8 in possession proceedings brought by a private landlord? – UK Human Rights Blog

‘Fiona McDonald was a private sector tenant. The landlords were her parents who had purchased the property by obtaining a secured loan from a private company. They fell into arrears of the monthly payments, and the company sought possession pursuant to a s.21(4) Housing Act 1988 (‘HA 1988’) notice. The arrears were not substantial, but they had persisted for some time.’

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UK Human Rights Blog, 25th August 2016

Source: www.ukhumanrightsblog.com

High Court: part 36 offer meant party could not accept earlier ‘without prejudice’ offer – Litigation Futures

‘The High Court has ruled that a claimant’s part 36 offer was a counter-offer, meaning that an earlier common law offer by the defendants no longer remained open for acceptance.’

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Litigation futures, 15th July 2016

Source: www.litigationfutures.com

City watchdog battles to ban ‘reckless’ payday lender – Daily Telegraph

Posted July 15th, 2016 in financial regulation, loans, news, unfair commercial practices by tracey

‘The City watchdog faces a legal battle in its attempts to ban a payday lender from the industry, as financier Andrew Barry Hart fights claims he “took a reckless approach” to lending and “failed to address unfair business practices”.’

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Daily Telegraph, 14th July 2016

Source: www.telegraph.co.uk

Court of Appeal: lender entitled to recover full refinancing loan in negligent property valuation case – OUT-LAW.com

Posted July 8th, 2016 in appeals, banking, insurance, loans, negligence, news, surveyors, valuation by sally

‘A lender was entitled to recover the full amount of a refinancing loan it granted after relying on a negligent property valuation, and not just the ‘top-up’ funding, the Court of Appeal has ruled.’

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OUT-LAW.com, 6th July 2016

Source: www.out-law.com

State aid ruling will help inform future investment of public funds, say experts – OUT-LAW.com

Posted May 25th, 2016 in appeals, competition, EC law, loans, local government, news, sport, state aids by sally

‘A recent ruling by the Court of Appeal in London will help public bodies invest public funds into business ventures without breaching state aid rules.’

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OUT-LAW.com, 23rd May 2016

Source: www.out-law.com

Judges reject state aid challenge to £14.4m council loan to stadium operator – Local Government Lawyer

Posted May 17th, 2016 in appeals, loans, local government, news by sally

‘The Court of Appeal has dismissed a judicial review challenge to Coventry City Council’s decision to lend £14.4m to ACL, a company which operates the Ricoh Arena.’

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Local Government Lawyer, 17th May 2016

Source: www.localgovernmentlawyer.co.uk

Crackdown on student loan repayment avoiders – BBC News

Posted February 12th, 2016 in education, loans, news, prosecutions by sally

‘Graduates in England and Wales who fail to repay their student loan in time could be prosecuted, ministers warn.’

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BBC News, 11th February 2016

Source: www.bbc.co.uk

Martin Lewis begins legal challenge over quiet student loans change – Daily Telegraph

Posted December 15th, 2015 in loans, news, repayment by sally

‘Campaigner Martin Lewis has engaged lawyers to investigate whether the Government has acted illegally in asking students to repay more.’

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Daily Telegraph, 14th December 2015

Source: www.telegraph.co.uk