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Judgement : Alliance & Leicester v Diane Reynolds - (Mortgage Shortfall)


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This judgment might be useful where there is a shortfall after a repo'd property has been sold.

 

In this case the lender took the ex-owner to court for it. It wasn't allowed as they'd already got a judgment for the money.

 

It may have been over 6 yearslink3.gif old, but the lender was refused judgment as it was an abuse of process due to the money judgment when the property was repossessed.

 

Whilst County Courts Judgments do not set precedents, used properly it could be classed as persuasive.

 

 

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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A County Court Judge in Warrington has ruled that the Alliance and Leicester could not succeed in their claim for an £20,000 shortfall from when the property was sold in 2002.

 

His Honour Judge Platts upheld a District Judge’s decision that the bank’s claim was an abuse of process and should be dismissed.

 

Back in 2001 the Court gave Alliance & Leicester a possession order and a judgment for the amounts due under the mortgage. The bank sold the property in 2002, but the sale did not raise sufficient funds to repay the mortgage in full, leaving a £20,000 shortfall.

 

Earlier this year, the bank brought a county court claim for the balance.

 

At a hearing in August, the District Judge threw out the bank's claim. The bank appealed.

 

Dismissing the bank’s request for permission to appeal, Judge Platts said that it was an abuse of process for the bank to bring a claim now when it already held a judgment for the mortgage debt.

 

“This decision will affect many cases all over the country” explained Nick Davis of Albinson Napier & Co, solicitor for Mrs Reynolds. “Banks often wait for many years before suing for a shortfall. Not all lenders asked for judgments when they obtained a possession order, but those who did will find that they cannot now bring a new court claim for any shortfall following sale of the property.”

 

The problem the banks face is that many of the original judgments are more than six years old, and therefore are very difficult to enforce.

 

 

 

Case details:

 

Alliance & Leicester Plc v Reynolds

 

Warrington County Court 14 November 2008.

Edited by caro

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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