Stonehouse argued that the trustee of his family trust was the borrower and not him. The judge rejected this noting: A cursory reading of the security documents shows that not to be the case. The terms of the agreement make it plain he and the family trustee are primarily liable for the loan. It is …
The lender applied for summary judgment against the borrower, seeking possession and a sum of money. The loan and mortgage were Code regulated. The borrower argued that the default notice failed to comply with the Code. The borrower also sought to vary the terms of the loan and mortgage pursuant to section 74 of the …
The lender obtained default judgment against a borrower arising out of a home loan secured by a mortgage. The borrower sought to have the default judgment set aside. The borrower defaulted as a result of losing her job and contacted the Financial Ombudsman Service (FOS) for assistance with financial hardship. After receiving an email from …
The borrower wanted to make a hardship application under the National Credit Code and to that end sought to set aside the default judgement on two grounds: Firstly she argued the banks affidavit in support of default judgement was inaccurate. The affidavit stated (falsely) that no payments had been made since the time of commencement …
The borrower fell into arrears and the bank issued a default notice. After a conversation with the bank’s lawyers, the borrower paid an amount indicated on the default notice but this amount did not include the bank’s costs. After the borrower was served with a statement of claim for failing to pay these costs and …
The lender obtained default judgment against a borrower arising out of a home loan secured by a mortgage. The borrower sought to have the default judgment set aside. The borrower defaulted as a result of losing her job and contacted the Financial Ombudsman Service (FOS) for assistance with financial hardship. After receiving an email from …
The borrower fought a tough rearguard action against possession proceedings commenced in November 2009. This included an approach to the bank’s External Dispute Resolution provider, Financial Ombudsmen’s Service which, according the judge, “put the proceedings to sleep” for five months. During the FOS episode the borrower was bankrupted by another creditor and a trustee appointed. The …
