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01 November 2024 / Cecily Crampin , Caroline Shea KC
Issue: 8092 / Categories: Features , Property
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A suitable sanction?

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What happens when a regulated mortgage contract is breached? A recent Supreme Court decision gives some welcome guidance, write Cecily Crampin & Caroline Shea KC
  • The decision in A1 Properties (Sunderland) Ltd v Tudor Studios RTM Co Ltd on the approach where a statutory provision requiring an action makes no provision for the consequence of breach is applicable in mortgage law to the effect of non-compliance with s 126 of the Consumer Credit Act 1974, which requires a court order before enforcement of a regulated mortgage contract.
  • Using the approach suggested supports a conclusion that lack of a court order makes the enforcement void. Judicial consideration of this point is needed to inform lender practice.

The decision of the Supreme Court in A1 Properties (Sunderland) Ltd v Tudor Studios RTM Co Ltd [2024] UKSC 27, [2024] All ER (D) 40 (Aug) gives general guidance on the correct approach to take when a statutory provision requires an action before a power can be exercised, but does not specify the consequence

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