Bank Notes

C – Credit

22/5/20

GERTNER v LASTER TRUST [2020] EWHC 1241 (Ch)

Considers the meaning of “financial accommodation” in s 8 Consumer Credit Act 1974 [59]. On the facts, a settlement agreement had not provided financial accommodation for the purpose of the CCA. Also considers the law on penalties [68].

18/12/15

BURRELL v HELICAL (BRAMSHOTT PLACE) LTD [2015] EWHC 3727 (Ch)

The defendant developed a retirement village and granted leases to the claimants. The claimants argued that provisions in their leases for payment of a percentage on transfer of the lease amounted to the provision of credit under a regulated consumer credit agreement. The court reviewed the meaning of credit in the CCA 1974 and held that the provisions did not involve the provision of credit because there was no deferred payment obligation.

7/2/13

SANTANDER UK PLC v HARRISON [2013] EWHC 199 (QB)

The capitalisation of mortgage payment arrears did not amount to the provision of “credit in the form of a cash loan” within art 4(1) Consumer Credit Act 2006 (Commencement No. 4 and Transitional Provisions) Order 2008 so the arrangement did not bring the agreement within the scope of CCA regulation. Even if the lender had assigned the loan, it was entitled to bring the claim because notice of the assignment had not been given to the debtor so as to perfect a legal assignment under s 136 LPA 1925 so the lender still had legal title. Notice under s 136 must be express notice in writing. The fact that the lender had provided information to the debtor as a result of a Data Protection Act request was not sufficient.