‘Lloyds Banking Group has been fined £64m by the City watchdog for failing to treat mortgage customers fairly after they fell into financial difficulty.’
The Guardian, 11th June 2020
Source: www.theguardian.com
‘In a possession and money claim brought by the registered assignee of a legal charge, the Appeal Judge found that the Claimant was entitled to possession as the registered title holder of a legal charge, despite his allowing the Defendant’s appeal and holding that the Claimant had not proved that a valid assignment of the debt had occurred at trial.’
Tanfield Chambers, 28th May 2020
Source: www.tanfieldchambers.co.uk
‘It was in City of London Building Society v Flegg that the House of Lords notably considered the position of overriding interests and those interests said to overreach them in the context of a mortgage of a property occupied by a third party. The courts had reason to revisit this area of the law much more recently in Baker v Craggs when the owner of the dominant tenement of an easement claimed that his interest overreached the overriding interest of the owner of the servient tenement. Now, in an ex tempore judgment given on the 19th March 2020, Jeremy Hyam QC, sitting as a Recorder in the County Court at Bristol, has adjudicated upon a similar issue in the case of Knight v Fernley in which the unregistered purchaser of a property who had gone into actual occupation of it claimed that her interest overrode that of a later transferee of the very same land.’
Radcliffe Chambers, 31st March 2020
Source: radcliffechambers.com
‘The Government has just announced emergency legislation to do the following:
– Stop any new possession claims (social and private tenancies) being issued at court for the next three months (at least).
– Introduce a new pre-action protocol for possession claims, to apply after the three months (or whenever) which will apply to private as well as social tenancies to strengthen its remit and to “support the necessary engagement between landlords and tenants to resolve disputes and landlords will have to reach out to tenants to understand the financial position they are in.”’
Nearly Legal, 18th March 2020
Source: nearlylegal.co.uk
‘Mortgage borrowers “unfairly trapped” on high interest rates when their lenders were nationalised are launching legal action against the companies they say are responsible.’
BBC News, 18th December 2019
Source: www.bbc.co.uk
‘This note is essential reading for mortgage providers, brokers and any practitioners with a practice or interest in civil fraud as the case constitutes perhaps the most detailed review of the law on secret commissions to date. In particular, it addresses the distinction between full secret commissions and so-called half-secret commissions where there is a partial disclosure. It clarifies the law in the area and solidifies the basis for a broker being held liable where a commission is only partially disclosed.’
Forum Chambers, 12th November 2019
Source: www.forumchambers.com
‘The dispute centred around a mortgage broker receiving both a fee from the borrower and a commission from the lender. Mrs Wood obtained two mortgages and a further advance secured over her two farms from Commercial First Business Limited (“CF”), a provider of unregulated secured loans to commercial borrowers. CF only accepted applications via brokers. UK Mortgage and Financial Services Limited (“UKMFS”) acted as broker for Mrs Wood on all three transactions, receiving commissions of £30,600, £57,092.80 and £5,234.22 respectively. CF entered into securitisation agreements assigning the loans to various assignees prior to entering CVL.’
New Square Chambers, 5th November 2019
Source: www.newsquarechambers.co.uk
‘Press reports of Boris Johnson and his partner arguing days before moving into No. 10 together has raised questions about the longevity of their cohabitation. However, with the number of cohabiting couples continuing to increase, how can lawyers advise those who choose to move in together protect their assets in the case of a breakup? Carrie Symonds is the first ‘unmarried’ PM partner to reside at Downing Street – confirmation, if we needed it, that couples choosing to simply cohabit (rather than marry before living together) is becoming the norm. Marriage is no longer the main priority for every couple, with many considering living together, commitment enough. As well as cohabiting being deemed as more socially acceptable than ever before, it has practical appeal too. For many, allowing the financial responsibility of owning and running a household to be shared can make a lot of sense, until a relationship breakdown.’
Family Law, 12th September 2019
Source: www.familylaw.co.uk
‘A change of rules aimed at helping lower the housing costs of thousands of so-called “mortgage prisoners” has been proposed by the City watchdog.’
BBC News, 26th March 2019
Source: www.bbc.co.uk
‘On 30 January 2019 the Court of Appeal gave their judgment in the case of Manchester Building Society v Grant Thornton UK LLP [2019] EWCA Civ 40. The following day judgment was handed down by the Honourable Mr Justice Bryan in AssetCo Plc v Grant Thornton UK LLP [2019] EWHC 150.’
Littleton Chambers, 14th February 2019
Source: www.littletonchambers.com
‘In Manchester Building Society v Grant Thornton UK LLP [2019] EWCA Civ 40, the Court of Appeal yet again had to consider the application of the SAAMCO principle. Perhaps most significantly, the decision underlines the need to distinguish between ‘information’ and ‘advice’ cases when assessing the extent of a defendant’s liability for professional negligence.’
Hardwicke Chambers, 14th February 2019
Source: hardwicke.co.uk
‘On 22 January 2019 the House of Commons Science & Technology Committee (“STC”) held an inquiry into “Japanese knotweed and the built environment”. It received written submissions from 27 interested parties, ranging from the Law Society and Royal Horticultural Society to companies specialising in the treatment of non-native invasive species and concerned individuals.’
Hardwicke Chambers, 11th February 2019
Source: hardwicke.co.uk
‘The accusation that loyal customers are being “ripped off” for mobile, broadband, savings, home insurance and mortgage deals is to be investigated by the competition body.’
BBC News, 28th September 2018
Source: www.bbc.co.uk
‘There is “no public interest” in allowing a negligent conveyancer to avoid liability when they did not know that their client was actually engaged in mortgage fraud, the Court of Appeal has ruled.’
Legal Futures, 14th September 2018
Source: www.legalfutures.co.uk
‘A family who have seen the value of their London flat slashed from £600,000 to just £90,000 because of Grenfell-style cladding could sue a government agency that helped them buy their home.’
The Guardian, 18th June 2018
Source: www.theguardian.com
‘The Government has announced that it will not bring forward the Law Commission’s Goods Mortgages Bill. The Bill had been announced in last year’s Queen’s Speech and would have replaced the Victorian‑era Bills of Sale Acts – bringing greater protections to those who had taken out or who had unwittingly purchased cars with so-called “logbook loans”. But following additional consultation, the Government has said it will not bring forward reform in the area in the immediate future.’
Law Commission, 14th May 2018
Source: www.lawcom.gov.uk
‘The first digital mortgage deed was entered into the Land Register today following collaboration and testing with Coventry Building Society and Enact Conveyancing.’
Legal Futures, 5th April 2018
Source: www.legalfutures.co.uk
‘A Kent law firm was negligent for failing to advise properly on a mortgage and valuation report (MVR), but this did not cause a couple in Canterbury to buy a house suffering from subsidence, a circuit judge has ruled.’
Legal Futures, 23rd February 2018
Source: www.legalfutures.co.uk
‘The Law Commission has today published a new draft Bill to put the brake on unfair rules on logbook loans and usher in a new era of better protection for consumers.’
Law Commission, 24th November 2017
Source: www.lawcom.gov.uk/
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