North East Property Buyers Litigation [2010] EWHC 2991 (Ch) [Not on Bailii yet. Available on Lawtel or Read the full post
Tag Archive for 'Mortgage possession'
Earlier this year J reported the passage of the Mortgage Repossessions (Protection of Tenants) Act 2010 which comes into force tomorrow (1st October), together with the Dwelling Houses (Execution of Possession Orders by Mortgagees) Regulations 2010 (No. 1809) and changes to CPR 55 and CCR O.26 as a result of the 53rd update to the civil procedure rules.
The new law gives some relief to an assured (whether or not shorthold) tenant (as well as to protected and statutory tenants under the Rent Act 1977) where a mortgage lender who is not bound by the tenancy brings proceedings for possession of the tenant’s home. The tenant has two, alternative, forms … Read the full post
An opportunity to indulge in schadenfreude at the expense of a mortgage lender is offered by HSBC v Dyche [2009] EWHC 2954 (Ch) where a claim for possession by a mortgagee was dismissed because the actual occupant of the property was beneficiary under a constructive trust. The decision gives an example of the doctrine of the common intention constructive trust, and touches on the preconditions for overreaching to occur.
I’ll take a slightly different approach to the court and discuss each issue as it arises in the chronology.
the Constructive Trust
In 1976 Mr and Mrs Collelldeval (the C’s) moved into the property, which they held on trust for themselves … Read the full post
Back in our post on the 50th update to the CPR, we noted that there was a new requirement from 1 October 2009 for the Claimant in mortgage possession proceedings to notify occupiers of proceedings within 5 days of receiving notification of the date of hearing and, interestingly, to notify the local authority’s housing department under CPR 55. We wondered at the time what local authorities would actually do with these notifications.
And now Housing Minister John Healey has told them and us what they must do. Well, not so much must do as should do. Or perhaps ought to maybe think about doing, at least if they … Read the full post
Every now and then, a case comes to my attention which makes me causes me unimaginable joy. Redstone Mortgages Plc v Welch, Jackson & Jackson (Birmingham County Court, June 22, 2009, HHJ Worster) is one of those cases. It’s already attracted some media coverage and, with luck, might attract some more. It deserves to. I’ve summarised and simplified matters where possible but a full transcript is available if anyone wants it.
This was a mortgagee’s claim for possession, but with a rather unusual history. Mr & Mrs Jackson were, until October 2005, the owners of a residential property. The property was mortgaged to Cheltenham & Gloucester Building Society and … Read the full post
The Observer had a very interesting article yesterday, which can be found here.
It concerned the complaint by Andrew Brown (not his real name) to the Financial Ombudsman Service. Mr Brown was a tenant of a housing association who was persuaded by a mortgage adviser to take out a mortgage and purchase the property (presumably under the terms of a preserved RTB). The mortgage had an attractive initial rate and then (can you tell what it is yet?) the interest rate shot up. Mr Brown was unable to service the debt and was ultimately repossessed.
The article suggests that he then complained to the FOS, arguing that the mortgage … Read the full post
The quarterly statistics for quarter 4 2008 on possession claims and orders are out [pdf]. Unsurprisingly, it is the mortgage repossession figures from the CML that got the headlines, being up significantly on 2007 – albeit by less than initially forecast by the CML. The mortgage possession claims issued actually dropped in quarter 4 2008 (although they had been at 38-39,000 for each of the previous three quarters of 2008, as opposed to 33-36,000 per quarter in 2007).
Meanwhile, landlord possessions are pretty static, or even slightly down. On the seasonally adjusted figures:
Mortgage possession
Claims brought
4.2007 – 36,444
4.2008 – 26,008
Order made
4.2007 – 25,555
4.2008 … Read the full post
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