Wood v Capital Bridging Finance Ltd

Consumer credit – Agreement. The claimant brought mortgage possession proceedings against the defendant, pursuant to the terms of a written loan facility agreement. A money judgment was given for the claimant. The defendant appealed, contending that the judge had erred in law in enforcing the contractual liability by a money judgment, because the facility was a regulated agreement under s 8(3) of the Consumer Credit Act 1974 and, since its form and content were not as prescribed by the Act and regulations made thereunder, it could only be enforced by an enforcement order. The Court of Appeal, Civil Division, allowed the appeal. It rejected the claimant's submission that the defendant was estopped by her declaration in the facility from denying that the agreement had been unregulated and, in the circumstances, there was no injustice in permitting the defendant to take that point of law for the first time on appeal.

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