Southern Pacific Mortgage Ltd v Jayne Elizabeth Heath [electronic resource]
Language: English Publication details: 2009Subject(s): Online resources: Summary: [2009] EWCA Civ 1135, 5 November 2009. Concerns the correct interpretation of the Consumer Credit Act 1974 S18. H had a £19 000 mortgage on a property, and subsequently re-mortgaged with a different lender for £29 000, the first mortgage being redeemed using part of this sum. The Consumer Credit Act at the time did not apply to credit over £25 000, and so its rules were not followed in respect of this transaction, however it was argued on behalf of H that the redemption of the first mortagage and the rest of the transaction should be treated separately, thus meaning that the terms of the Act should have been applied. "Held": appeal dismissed. The agreement could not be taken apart in this way, and was not therefore an agreement regulated under the Act.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | Virtual Online | ONLINE PUBLICATION (Browse shelf(Opens below)) | 1 | Available | 149617-2001 |
[2009] EWCA Civ 1135, 5 November 2009. Concerns the correct interpretation of the Consumer Credit Act 1974 S18. H had a £19 000 mortgage on a property, and subsequently re-mortgaged with a different lender for £29 000, the first mortgage being redeemed using part of this sum. The Consumer Credit Act at the time did not apply to credit over £25 000, and so its rules were not followed in respect of this transaction, however it was argued on behalf of H that the redemption of the first mortagage and the rest of the transaction should be treated separately, thus meaning that the terms of the Act should have been applied. "Held": appeal dismissed. The agreement could not be taken apart in this way, and was not therefore an agreement regulated under the Act.