CASE STUDY: Protecting our lenders against fraudulent borrowers
Posted by: Titlesolv
What triggered the claim? The Lender was approached by Mr M for a short term loan to be secured as a second charge against the Property he jointly owned with his mother, Mrs Y. Once the loan was complete, Mrs Y would relinquish her interest in the property and Mr M would become the sole owner. Mr M was living at the property with his wife and Mrs Y and confirmed that they would be letting the property out and produced a tenancy agreement to reflect this. 6 months later, Mr M defaulted on the loan. The lender discovered that not only was Mr M still living at the property, but Mrs Y alleged that she had no idea why the property was no longer in her name, that she didn't know the solicitors who had acted on her behalf and that she did not understand the documents Mr M had asked her to sign.
Even the simplest of disputes can result in tens of thousands in compensation
Posted by: Titlesolv
A neighbouring property owner had constructed a hardstanding and erected sheds which subsequently encroached on the Insured's access to the property.
Higher rates on the horizon
Posted by: Titlesolv
In its eagerly anticipated decision on interest rates, the Bank of England's rate-setting monetary policy committee (MPC) unanimously voted to leave rates at 0.5%.
Housing takes centre stage in the Autumn Budget
Posted by: Titlesolv
With issues from alcohol duty to growth forecasts under the microscope, the Autumn Budget included significant announcements on a diverse set of issues. Despite these concerns, attention was focused squarely on the Government?s housing proposals.
Bank rate rise: duck for cover?
Posted by: Titlesolv
The recent rise in the Bank of England?s base rate from 0.25% to 0.5% had been widely predicted. Some lenders had already raised their rates before the announcement, and others swiftly followed suit.
Most Popular
Tags