Category: mortgages

Cohabiting pitfalls: is it time the law caught up? – Halsbury’s Law Exchange

Posted November 26th, 2014 in bills, cohabitation, married persons, mortgages, news by sally

‘The law on relationship breakdown differs between couples who are cohabiting and married couples. Under English Law the concept of common-law wife/husband does not exist. If an unmarried couple live together in a property owned by both of them, they need to be careful to express at the outset what they intend as to property ownership. If they intend it to be an equal ownership they should state this or differing percentages.’

Full story

Halsbury’s Law Exchange, 25th November 2014

Source: www.halsburyslawexchange.co.uk

Magic beans for that cow? – Zenith Chambers

Posted November 17th, 2014 in appeals, equity, housing, landlord & tenant, leases, mortgages, news, rent, Supreme Court by sally

‘The North East Property Buyers litigation test cases finally reached the Supreme Court and judgment was handed down on 22nd October 2014. Any practitioner in property and housing litigation in the North East, and indeed further afield, will have had some knowledge of, or dealings with, schemes such as were in these cases examined. They concerned sale and lease back agreements, a simple enough notion, involving the purchase of a vendor’s home by a nominee, often at an undervalue, in return granting the vendor a lease of the property, thereby releasing equity to the vendor and allowing them to remain in the property at a reduced rent.’

Full story (PDF)

Zenith Chambers, 24th October 2014

Source: www.zenithchambers.co.uk

Supreme Court backs existing test for calculating ‘equitable compensation’ – OUT-LAW.com

Posted November 13th, 2014 in compensation, mortgages, news, Supreme Court by sally

‘Lenders can only be compensated for actual losses that stem from a breach of trust in commercial transactions, the Supreme Court has confirmed.’

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OUT-LAW.com, 11th November 2014

Source: www.out-law.com

AIB Group (UK) Plc (Appellant) v Mark Redler & Co Solicitors (Respondent) – Supreme Court

Posted November 5th, 2014 in breach of trust, compensation, law reports, loans, mortgages, solicitors, Supreme Court by sally

AIB Group (UK) Plc (Appellant) v Mark Redler & Co Solicitors (Respondent) [2014] UKSC 58 (YouTube)

Supreme Court, 5th November 2014

Source: www.youtube.com/user/UKSupremeCourt

Southern Pacific Mortgages Ltd v Scott (Mortgage Business plc intervening) – WLR Daily

Posted October 28th, 2014 in appeals, fraud, land registration, law reports, mortgages, Supreme Court by sally

Southern Pacific Mortgages Ltd v Scott (Mortgage Business plc intervening) [2014] UKSC 52; [2014] WLR (D) 447

‘A purchaser of a property could not grant equitable rights of a proprietary character prior to acquisition of the legal estate.’

WLR Daily, 22nd October 2014

Source: www.iclr.co.uk

How to reduce your Inheritance Tax bill – BBC News

Posted October 27th, 2014 in budgets, inheritance tax, mortgages, news, statistics, taxation by sally

‘”We all want to see a system where it is only the very rich that pay inheritance tax, and not hard working people.”

Those were the words of David Cameron during Prime Minister’s Questions last week.’

Full story

BBC News, 24th October 2014

Source: www.bbc.co.uk

Supreme Court: ‘sale and rent back’ firm could not grant tenants proprietary rights over properties before sale completed – OUT-LAW.com

Posted October 24th, 2014 in leases, mortgages, news, repossession, sale of land by sally

‘A firm that purchased properties in the north east of England on the condition that the previous owners would be entitled to remain in their homes indefinitely was not in a position to make such a promise, the UK’s highest court has ruled.’

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OUT-LAW.com, 23rd October 2014

Source: www.out-law.com

Scott (Appellant) v Southern Pacific Mortgages Limited (Respondents) – Supreme Court

Posted October 22nd, 2014 in appeals, fraud, law reports, mortgages, Supreme Court by sally

Scott (Appellant) v Southern Pacific Mortgages Limited (Respondents) [2014] UKSC 52 (YouTube)

Supreme Court, 22nd October 2014

Source: www.youtube.com/user/UKSupremeCourt

Court of Appeal highlights dangers to lenders of choosing to enforce only part of a security – OUT-LAW.com

Posted October 21st, 2014 in appeals, debts, enforcement, mortgages, news, repossession by sally

‘Lenders must be careful to ensure that they do not lose the right to enforce their remaining rights under a security agreement when they choose to enforce only part of it, the Court of Appeal has warned.’

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OUT-LAW.com, 20th October 2014

Source: www.out-law.com

Pilot jailed for £30m mortgage fraud – BBC News

Posted October 15th, 2014 in accountants, conspiracy, fraud, mortgages, news, sentencing, solicitors by sally

‘A former Virgin Atlantic pilot has been jailed for 14 years for committing a £30m mortgage fraud in Berkshire.’

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BBC News, 14th October 2014

Source: www.bbc.co.uk

How October 1 will change your life – Daily Telegraph

Posted October 1st, 2014 in alcohol abuse, children, compensation, copyright, Driver & Vehicle Licensing Agency, families, health, HM Revenue & Customs, legislation, mortgages, news, patents, taxation, victims, wills by sally

‘As a number of new laws come into effect this week, we take a look at how your life will be affected.’

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Daily Telegraph, 1st October 2014

Source: www.telegrpah.co.uk

A mortgage without a valid mortgage deed – Hardwicke Chambers

Posted September 24th, 2014 in estoppel, litigants in person, mortgages, news, repossession, trusts by sally

‘There have been a number of attempts by those facing repossession and worse at the hands of mortgage lenders to dispute the validity of the claims against them on the basis of a failure to comply with the necessary legal formalities. Mortgage lenders typically send a mortgage offer letter that they invite their borrower to sign. Often the mortgage lender does not formally sign the offer letter. At the time of an advance there is usually a mortgage deed which is often signed by the borrower not the lender.’

Full story

Hardwicke Chambers, 10th September 2014

Source: www.hardwicke.co.uk

You’ve got absoutely nothing out of this – NearlyLegal

Posted September 1st, 2014 in abuse of process, banking, contracts, costs, housing, indemnities, mortgages, news, repossession by sally

‘For most parties that enter into litigation (save for those on CFAs and some who are legally aided) a win isn’t really a win unless the other side is also ordered to pay your costs. I say most, because certain litigants enter into litigation knowing that come what May their costs will be paid on the indemnity basis. They have the foresight (or more accurately the power) to draft contracts which provide that, in the event of litigation, the other side (often a borrower or a long leaseholder) will indemnify them for all their legal costs irrespective of whether they win or lose.’

Full story

NearlyLegal, 31st August 2014

Source: www.nearlylegal.co.uk

RBS failed in mortgage business basics and is lucky the fine was just £14.5m – The Guardian

Posted August 29th, 2014 in banking, financial advice, financial regulation, fines, mortgages, news by sally

‘Bank hit with its sixth penalty in four years, showing it is still far from being in proper shape to return to the private sector.’

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The Guardian, 27th August 2014

Source: www.guardian.co.uk

Private landlords and article 8 – Are we there yet? – Hardwicke Chambers

Posted August 7th, 2014 in benefits, housing, human rights, landlord & tenant, mortgages, news, repossession by sally

‘At the time of the decisions in Manchester City Council v Pinnock [2011] 2 AC 104 and Hounslow v Powell [2011] 2 AC 186 it was thought that a seismic shock wave would be sent through the Courts requiring them in every claim for possession of residential premises by a public sector landlord to undertake a time consuming balancing exercise to assess the “proportionality” of making an order for possession. The Courts, it was thought, would be overwhelmed. This has in fact not proved to be the case. The County Court has become adept at weeding out the weak cases early on and even where the article 8 point is run to trial the Court has, by and large, been robust in its approach. The one issue which has remained unresolved for a surprisingly long time is the question of the extent to which the principles set out in Powell and Pinnock would apply in a possession claim where the land owner is a private individual and not part of the public sector.’

Full story

Hardwicke Chambers, 4th August 2014

Source: www.hardwicke.co.uk

McDonald and others v McDonald – WLR Daily

Posted July 25th, 2014 in housing, human rights, law reports, mortgages, proportionality, repossession by sally

McDonald and others v McDonald: [2014] EWCA Civ 1049; [2014] WLR (D) 336

‘Where a private landlord sought a possession order under section 21(4) of the Housing Act 1988 the tenant could not resist the making of the order on the ground that it would be disproportionate under article 8.2 of the Convention for the Protection of Human Rights and Fundamental Freedoms.’

WLR Daily, 24th July 2014

Source: www.iclr.co.uk

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.’

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Hardwicke Chambers, 4th June 2014

Source: www.hardwicke.co.uk

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.’

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Daily Telegraph, 13th June 2014

Source: www.telegraph.co.uk

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.’

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New Law Journal, 6th June 2014

Source: www.newlawjournal.co.uk

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.’

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Legal Futures, 25th February 2014

Source: www.legalfutures.co.uk