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ARTICLE · 16 SEPTEMBER 2015

Residential Repossessions: Reasonable Efforts To Agree

MacRoberts
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The decision of the Inner House of the Court of Session in Swift Advances PLC v James Martin and others is another examination of that highly complex area of law – repossessions of residential property.

United KingdomFinance and Banking
Julie Hamilton
Julie Hamilton
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The decision of the Inner House of the Court of Session in Swift Advances PLC v James Martin and others (4 September 2015) is another examination of that highly complex area of law – repossessions of residential property.

Background

The defenders had taken out a second mortgage with the pursuers in 2007; in doing so they granted a standard security in favour of the pursuers. The defenders had defaulted on the payments under the loan by 2008 and the pursuers took steps to call up the standard security in early 2012.

The defenders appealed to the Inner House against the decision of a Sheriff and latterly the Sheriff Principal to grant a decree for repossession of the property.

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