North East Property Buyers Litigation [2010] EWHC 2991 (Ch) [Not on Bailii yet. Available on Lawtel or Read the full post
Tag Archive for 'Sale and rent back'
Word reaches us (via the Garden Court North website) of what appears to be a fascinating piece of litigation in the High Court (Leeds District Registry) concerning sale and rent back schemes (as to which, see our earlier piece, here). A number of former home-owners sold their homes (generally at a substantial discount) to sale and rent back companies who, in turn, (a) funded the purchase with a mortgage and (b) promised the former owners that they could remain living in the property (on terms, I presume). The sale and rent back companies defaulted on their mortgages and the lenders have sought possession. The argument, I presume, is … Read the full post
Scrowther v Watermill Properties [2009] EW Misc 6 (EWCC) Newcastle upon Tyne County Court
Continuing the Norwegian theme we appear to have adopted for such cases, here we have a example of an ex-sale and rent back agreement, void and gone to join the choir eternal. It is an interesting County Court case on collateral agreements to sale of property. And it is something of a synecdoche for the past decade.
Miss Scowther owned a property in Morpeth, purchased under the right to buy in January 2003. In September 2006, she contacted Watermill, who set themselves as out providing a form of sale and rent back scheme aimed at those … 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
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