ARTICLE · 23 FEBRUARY 2015

Priority Clauses Do Not Always Take Priority In Contract Interpretation

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The High Court has reminded us that when there are allegedly conflicting terms in a contract the court will analyse whether the terms can be sensibly read together before considering a priority clause.

United KingdomCorporate/Commercial Law

The High Court has reminded us that when there are allegedly conflicting terms in a contract the court will analyse whether the terms can be sensibly read together before considering a priority clause.

In this case the claimant Mr Alexander had a "buy to let" mortgage granted by West Bromwich Mortgage Company Limited (the "Bank")¹. The Bank had sent Mr Alexander an Offer of Loan which provided that the interest on the mortgage was fixed for a specified period of time after which it reverted to a variable rate. The variable rate was described as the same as the Bank of England Base Rate plus a premium of 1.99%.

Mr Alexander was also sent by the Bank Mortgage Conditions which stated:

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