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SHELTER report into reposessions - november 2008

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  • SHELTER report into reposessions - november 2008

    SHELTER REPORT
    http://www.infohub.moneyadvicetrust...._briefing1.pdf

    This briefing from Shelter looks at what lies behind the overall increase in reposessions since 2004, and sets out some issues raised by the changing nature of the mortgage lending sector. This briefing questions whether adequate systems are in place to deal with the new levels of risk that homeowners are experiencing, and whether lenders, regulators and the state are delivering the level of protection needed for homeowners in the current market.

    The courts as last line of defence
    Over 90 per cent of possession actions taken to the
    county court result in the granting of a possession
    order, and only 0.2 per cent are dismissed.29
    It is possible to improve procedures at the point
    where a possession order is applied for in the
    county court. Scrutiny of actions brought could
    identify those cases where lenders have not adhered
    to regulatory standards or treated the customer
    unfairly, and could prevent lenders in such cases
    from obtaining a possession order. Tenants in the
    social housing sector have some protection with the
    pre-action protocol for rent arrears, but there is no
    such protection for mortgage possession cases.
    The existing law does not allow judges to make a final
    consideration on whether it is reasonable in all the
    circumstances to grant possession. Such freedom
    does exist in many tenancy possession cases, and
    there may be scope for the law to be changed so
    that a test of reasonableness becomes possible for
    mortgage possession actions.


    The Unfair Contract Terms Act 1977 potentially allows
    judges in the county court to rule that any of the
    terms of a contract are unreasonable, and to dismiss
    a case brought under such terms. Using this legal
    measure could provide some protection to borrowers
    whose lenders engage in practices such as charging
    unreasonable sums as a penalty for defaulting on
    payment, or setting an unreasonable timescale
    under which arrears have to be paid back. However,
    deciding unfairness in this way is a cumbersome and
    unreliable way of dealing with the problem.
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

  • #2
    Re: SHELTER report into reposessions - november 2008

    MoJ statistics for Q3 2008 - Money Advice Trust: Information Hub
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

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