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Bank Of Scotland Accused Of Mortgage Fraud

Bank Of Scotland Accused Of Mortgage Fraud

Northern Ireland Attorney General Accuses Bank Of Scotland Of Committing Mortgage Fraud

John Larkin QC, Northern Ireland’s Attorney General, has accused the Bank of Scotland of committing mortgage fraud in relation to the way that the bank has treated customers who fell behind on their residential property mortgages.

An earlier court hearing had previously ruled that the Bank of Scotland had unfairly re-billed some of their own customers who had fallen into arrears with their mortgage payments.

The Bank of Scotland had decided to appeal the verdict of the earlier court hearing but decided to drop that appeal on Monday morning. The Bank of Scotland then rejected Mr Larkin’s claims, saying it strongly takes issue with the allegations.

A barrister for the bank, Stephen Shaw QC, said Mr Larkin’s view of mortgage fraud was “based on a misapprehension”.

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Landlord Details Must Be Included In Prescribed Information

Landlord Details Must Be Included In Prescribed Information

All UK Landlord details should be correct
before being included in Prescribed Information

The information must be included, even when the rental property is fully managed by a managing agent, to avoid any possible legal problems with tenancy deposits.

Linda Howard, of Shoosmiths solicitors has warned that individual judges could make different interpretations on the wording of requirements after the news that a possession order was overturned because the legally required Prescribed Information gave the letting agent’s details instead of the landlords.

She said: “The Housing (Tenancy Deposits) (Prescribed Information) Order (2007) seems to make it clear, at 2, (g) (iii) that the name, address, telephone number and any email address or fax number of the landlord, not the agent, must be given.”

Ms Howard also pointed out that in another case in the county court, a duty solicitor raised exactly the point of an agent’s rather than the landlord’s details being given and the judge subsequently adjourned those proceedings because of seeming non-compliance with the Prescribed Information Order. However, the case went through on the second hearing because the landlord argued that Rules of Agency applied.

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NLA and UKALA Call For Clarity Over Tenancy Deposit Protection Law

NLA and UKALA Call For Clarity Over Tenancy Deposit Protection Law

NLA And UKALA Call For Clarity Over
Tenancy Deposit Protection Law

NLA / UKALA press release:

The National Landlords Association (NLA) and the UK Association of Letting Agents (UKALA) are jointly calling for clarity amid speculation about the impact of the recent Court of Appeal judgement in the case between Superstrike Ltd and Marino Rodrigues.

The judgement of 14 June 2013 is the latest in a long line of appeal cases to cast doubt on landlords’ responsibility to protect tenants’ deposits.

In the case of Superstrike Ltd and Marino Rodrigues, the Lord Justice Lloyd’s conclusion has raised significant questions about the status of long-term periodic tenancies which began prior to the introduction of tenancy deposit protection (TDP).

Richard Lambert, CEO of the NLA, said: “It is understandable that landlords are concerned about this case, and the potential impact it could have on those who find that they have unintentionally failed to comply with tenancy deposit protection legislation as a result of Lord Justice Lloyd’s ruling. However, they must remember that this judgement only applies to a very specific set of circumstances, meaning that most landlords will be unaffected. Although it is likely to affect relatively few tenancies, the NLA’s real concern in this matter is that, once again, professional landlords, following government guidance on how to comply with the law, have been caught out by the unintended consequences of the Housing Act 2004. The Government must act swiftly to reassure the industry that law-abiding landlords will not face sanctions as a result of this new interpretation of the rules. We’ve written to the Housing Minister calling on him to take urgent action to re-assert the spirit of the law on tenancy deposit protection and restore fairness to the system which was designed to ensure it.”

Caroline Kenny, UKALA Chief Executive, said: “UKALA is troubled that once again tenancy deposit protection rules appear to have been thrown into disarray by the Court of Appeal. Landlords and their agents simply trying to understand and comply with the law will be rightly disillusioned by yet another reconsideration of ‘the right way to protect a deposit’. We hope to see this matter taken to the Supreme Court so that clarity can be achieved once and for all. In the meantime, the industry is in desperate need of guidance from the Government about how to treat affected deposits.”

Lack Of Deposit Protection Information Costs Landlord Thousands

The Court of Appeal last week witnessed a landmark case as a landlord was ordered to return a tenant’s deposit plus 3 times the amount of the original deposit (the maximum penalty allowable by law) just because of an oversight with regards to the information provided about the tenancy deposit protection scheme used.

Ignorance Is No Defence

Ignorance Is No Defence

The tenant was in the process of being evicted from the property when it was claimed that the landlord was in no position to evict the tenant having not fully complied with the rules of deposit protection.

The tenant claimed they had not been given all relevant information about the deposit protection scheme, despite the information being available in an easy-to-obtain leaflet.

The landlord agreed there had been minor omissions regarding information about the deposit protection scheme, however, the tenant had not suffered in any way as a result.

The case was first brought before the magistrates court where the landlord won the case, but following the tenant’s appeal, the original verdict was overturned by the Court of Appeal and awarded in favour of the tenant.

The total financial cost to the landlord has yet to be revealed but estimates place the amount well into thousands of pounds (GBP).

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