This week's TGIF considers the decision in RHG
Mortgage Corporation Ltd v Summerfield [2019] NSWCA 44, where
a finding was made that there was no default by borrowers which
entitled the lender to possession of the security
property.
In RHG Mortgage
Corporation Ltd v Summerfield [2019] NSWCA 44, the Court
of Appeal in NSW considered an appeal by RHG Mortgage Corporation
Ltd (Lender) against a finding that there was no
default by Mr and Mrs Summerfield (Borrowers),
entitling it to possession of a security property or a monetary
judgment.
BACKGROUND
In September 2002, the Borrowers entered into a loan agreement
with the Lender for the purchase of a property, secured by a first
ranking registered mortgage over that property. In June 2012, the
Lender issued a notice of default to the Borrowers claiming arrears
of $19,720.88. The sum was not paid and the Lenders commenced
proceedings for possession of the security property.
