Tag Archive for 'consumer credit'

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: , .

Subprime settlement

By NL on 11/11/2009. 0 Comments

Belmain Finance Limited v Peter James Bentley High Court (Chancery Division) Cardiff.

In a widely reported settlement (see here, here and here for example) this case has come to an end. Belmain Finance had lent £40,000 to Mr Bentley, secured against his home. Mr Bentley, due to having to care for his father and then the recession, was unable to meet the £550 per month payments and fell into arrears. (Mr bentley had already had to go part-time to care for his father at the time of taking the loan). Belmain brought possession proceedings.

Mr Bentley argued that the agreement was unfair under the Consumer Credit Act 1974, s.140A, … Read the full post

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

Would you credit it?

By J on 22/06/2009. 0 Comments

Some of you might have seen in the news recently some rather confused reports that HHJ Halbert at Chester County Court was dealing with various attempts by people to write off debts owed under credit agreements, see, for example, this from the BBC or this from the MoJ.

We here at NL were not too sure what to make of these reports but, thanks to our friends at Garden Court North, we’ve managed to shed some light on matters.

HHJ Halbert has given judgment in a case called Southern Pacific Personal Loans Ltd v Walker (12 March 2009, Chester County Court) and has determined that Southern Pacific (“SP”) cannot … Read the full post

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