Westpac v Doueihi [2015] NSWSC 709

A borrower sought to stay the lender’s auction of his property on the basis that his friend had obtained finance to purchase the house. However the friend had not actually received formal approval but only a preliminary or conditional offer of finance.

The court refused the stay. The court noted that a borrower seeking postponement of an auction must ordinarily provide some form of security for the extent of the mortgage, which had not been done and in any event, the friend had the option of bidding at the auction to purchase the property.

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