EG 16-11-1918-11-2019, 15:39
P.49 Mortgages and Lending in Scotland compared to England & Wales. Interesting article showing the huge differences in the law of mortgage up north, where there is a standard set of mortgage clauses ’standard security’ incorporated by statute into every mortgage, some of which can be varied and some which cannot. The terms used are different, there is 21 day companies house registration but the different rules about when the 21 days start, they are used to secure development agreements as there are no equivalents of ‘restrictions on the title’ there, floating charges are slightly different, etc!
P 51 Unwelcome guest or pleasant surprise? Do you act for a landlord of a retail tenant that has just been ’sold’ by an administrator? What are the things you need to be concerned with - rather than just consent to the necessary assignment (to the newco set up by the buyer?). What if the administrator lets them in without your consent. Very good resume of the practical points that need to be considered
P.53 Do the courts discourage litigation - looks at the Lomax case where the parties were ordered to seek an Early Neutral Evaluation despite one party objecting. What are the pressures on litigants to seek some form of ADR - court feels. Disclosure, fixed costs etc.?
P.54 Short article outlining the important case of Sequent (formerly Rotrust) v Hautford where the SC reversed the CA decision and said L could justifiably refuse consent to the T making a planning application for change of use to residential on the grounds that this would make the property potentially subject to an enfranchisement claim - surprising!
P.54 more Enfranchisement. This time a collective scheme application where L argued the notice was invalid since he had created more flats in the block (or was in the process of) at the relevant date therefore the required at least 50% of Ts had not been met. T won, the new flats weren’t ‘flats’ within the meaning of the act as they hadn’t been brought into use or habitable at the relevant date.
P.55 Relief from forfeiture allowed in the situation where a licensee had missed a couple of licence payments of a £50 discharge licence into the canal, whereupon the canal company terminated it and offered a new licence at £350,000 pa to drain the new development that was now using the drainage route. SC held that the equitable right of forfeiture applied to things to do with possessory rights and that in some (rare) cases (of which this was one) the right was more a possession right than a licence right. Don’t bank on winning other cases as this was an unusual case.
P.56 Sustainabiity and the Govts progress to this - useful review of all the Acts that try to achieve a net zero carbon regime. (Fine words by HMG but little action in my opinion).
P.57 Zero carbon and the circular economy. More information on what is happening on this front in the property industry including the UK Green Building Council published Net Zero Carbon Framework and the effect on investors - could this generate higher returns and attract tenants with eco-cred needs?