The mortgagee had entered into possession, and then, with the consent of the court, itself bid at the auction and succeeded in purchasing it. It later resold the property for a price above the auction price. The borrower resisted an action for the balance due under the loan.
Held: The balance above the auction proceeds remained due, and the later profit realised by the lender was not relevant.
Citations:
[1926] AC 781
Jurisdiction:
England and Wales
Cited by:
Cited – Bristol and West plc v Bartlett and Another; Paragon Finance plc v Banks; Halifax plc v Grant CA 31-Jul-2002
The defendants resisted claims by lenders for the payment of mortgage debts. In each case the lender had exercised the power of sale before issuing proceedings for possession. The defendants queried the limitation period applicable.
Held: The . .
Lists of cited by and citing cases may be incomplete.
Land
Updated: 30 April 2022; Ref: scu.199718
