• Misleading and Deceptive Conduct Alleged Against BankWest


    Misleading and deceptive conduct alleged against BankWest.

    In Commonwealth Bank of Australia Ltd v Chamos [2012] NSWSC 1345 the Supreme Court of New South Wales considered issues surrounding misleading and deceptive conduct alleged against a mortgagee.

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  • Competing Interests in Security Property

    security property

    Competing interests in security property – will the court allow the holder of a registered caveat to interfere with the rights of a prior registered mortgagee to sell the security property as mortgagee in possession?

    In Bateson v Jones [2013] WASC 8, Justice Pritchard of the Supreme Court of Western Australia was required to determine an application for the extension of a caveat filed by a lender in response to a lapsing notice issued by a prior registered mortgagee. The reasons for the Judge’s dismissal of the application are discussed below.

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  • Summary Judgment Against Borrowers for Residual Debt

    residual debt

    Lender obtains summary judgment against borrowers for residual debt remaining after security property sold as mortgagee in possession.

    If exercised with caution, applications for summary judgement can be a cost effective way for lenders to resolve proceedings against borrowers. This without the cost of having to run the matter to trial.

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  • Finance Brokers are the Agent of the Borrower Not the Lender

    finance brokers

    Supreme Court confirms that finance brokers are the agent of the borrower not the lender.

    In Secure Funding Pty Ltd v Moon & Anor Justice Lyons of the Supreme Court of Queensland upheld the general principle that a finance broker is not the agent of the lender even if the lender pays a fee to the broker.

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  • Letter of Offer Dispute: Application Fee If Borrower Withdraws

    letter of offer

    Letter of Offer Dispute – charging an Application Fee when the borrower withdraws.

    The Queensland Court of Appeal decision of Memery v Trilogy Funds Management Limited [2012] QCA 160 provides a useful analysis of when a lender may charge an application fee under a letter of offer agreement even if the loan does not proceed.

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