http://news.bbc.co.uk/1/hi/business/8332124.stm
A carpenter from Bridgend has won a five-year stay on any repossession proceedings against him by his lender.
Peter Bentley challenged the right of Blemain Finance, who specialise in second loans secured on a home, to repossess him.
He claimed that his contract with them involved an unfair relationship that was illegal.
The lender also agreed to charge no further interest and cut his repayments from £550 to just £150 a month.
Looks to me lenders are scared of a possible legal precedent that will forbid repossession if they acted irresponsibly or took advantage in lending in the first place.
A carpenter from Bridgend has won a five-year stay on any repossession proceedings against him by his lender.
Peter Bentley challenged the right of Blemain Finance, who specialise in second loans secured on a home, to repossess him.
He claimed that his contract with them involved an unfair relationship that was illegal.
The lender also agreed to charge no further interest and cut his repayments from £550 to just £150 a month.
Looks to me lenders are scared of a possible legal precedent that will forbid repossession if they acted irresponsibly or took advantage in lending in the first place.
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