In the April 2024 column, Sabrina Goodchild considers the judgment in Kumar and others v LSC Finance Ltd [2024] EWCA Civ 254.
In Kumar and others v LSC Finance Ltd [2024] EWCA Civ 254 (15 March 2024), the Court of Appeal considered the effect of a business purpose declaration in the context of an alleged investment property loan (IPL). The declaration had been drafted using the regulated credit agreement mandated wording, as opposed to the wording in article 61A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO) applicable to regulated mortgage contracts (RMCs).
To read the article, please click here: PLC April 2024.
