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NLJ this week: The rise of sham authorisation & illegal moneylenders

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11 October 2024
Issue: 8089 / Categories: Legal News , Procedure & practice , Financial services litigation , Property
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192559

Ne’er a borrower nor a lender be, as the old saying goes. In this week’s NLJ, Fred Philpott, Gough Square Chambers, explores the world of illegal lending, which ruthlessly preys on the desperate & vulnerable

Philpott writes about the recent flourishing of ‘a financial industry whereby some businesses lend money secured on people’s homes without authorisation’. He analyses a Court of Appeal case that illustrates ‘some of the subterfuges that can be used’.

He writes: ‘A recurring theme in these (often tragic) cases is that desperate people will sign anything, no matter how unfair. Thus, misfortune in many cases results in the misery of repossession.’

Issue: 8089 / Categories: Legal News , Procedure & practice , Financial services litigation , Property
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