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The editor of this section of the site is Nigel Clayton of Kings Chambers, Leeds and Manchester. Nigel also maintains the specialist website dealing with mortgages at www.legalmortgage.co.uk

There is one case this month concerning affording statutory protection to unregulated credit agreements, erroneously packaged as regulated.

Residential mortgage lending

Regulated Credit Agreements

NRAM Plc v McAdam
[2014] EWHC 4174 (Comm)


A lender was bound to afford the statutory protections in the Consumer Credit Act 1974 in respect of unregulated credit agreements which were erroneously packaged as regulated.


Between 1999 and 2008 a lender (NR) sold ‘Together Mortgages’ comprising (a) a secured element up to 95% loan to value and (b) a fixed sum unsecured loan up to 30% of value, capped at £30,000.

The paperwork for the unsecured element did not differentiate between unregulated ... THIS IS AN EXTRACT OF THE FULL TEXT. TO GET THE FULL TEXT, SEE BELOW

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