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.
Mind the Gap
Posted by: Titlesolv
The recent High Court case of Baker v Craggs highlights the consequences of failing to register a property within the priority period of a Land Registry search.
The Dimensions of Risk: MMR
Posted by: Titlesolv
In the latest of a series of articles, experts from Titlesolv, a leading provider of title insurance and indemnity solutions, explore one of the key elements of risk for the lending community: the Mortgage Market Review. Jill Forsyth, Legal Counsel & Compliance Manager, Titlesolv
Repossessions - a ticking time bomb?
Posted by: Titlesolv
Christopher Taylor, CEO of London & European, warns lenders not to be lulled into a false sense of security by the news from the Ministry of Justice that repossession claims made by the courts have fallen by 50% from October to December 2008...
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