Tag Archive for 'consumer credit act'

A charge for credit isn’t credit

By NL on 07/07/2010. 0 Comments

Southern Pacific Securities 05-2 Plc v Walker & Anor [2010] UKSC 32

A brief note on this case, which concerned the enforceability of a credit agreement secured on the Walker’s property. Our report on the Court of Appeal decision is here, and there is little to add in this note, because the Supreme Court in Lord Clarke’s lead judgment, agree completely with the Court of Appeal.

The issue was whether a separate charge – here for broker’s fees – on which interest was charged, should have been included in the total amount of credit specified in the agreement. At first instance, the fact that it wasn’t, had meant … Read the full post

Posted in FLW case note, Housing law - All and Mortgage possession. Tags: consumer credit, consumer credit act.

A charge for credit

By J on 12/11/2009. 17 Comments

Southern Pacific Personal Loans Ltd v Walker [2009] EWCA Civ 1218 (although the neutral citation may change since there are two cases with number 1218)

We noted this case when it was but a county court decision. The Court of Appeal decision is now available and the decision of the county court has been overturned. This looks like it’ll have put an end to what was becoming a fairly common defence. On a purely personal note, having only just got my head around the argument (and started using it) the result is very frustrating.

The Consumer Credit Act 1974 isn’t, of course, necessarily a housing law statute. It so happens … Read the full post