Archive for category: blog

Pay Day Loans to Change Under New Regulation From The FCA

Pay day loan companies have recently come under a great deal of scrutiny from the Financial Conduct Authority (FCA), politicians and even the Archbishop of Canterbury has had his say. It’s a sign of current times when people are borrowing relatively modest sums for a short period, but end up paying back thousands of pounds to the lenders, with some companies charging annual interest rates of almost 6,000%.

The FCA is due to take over the regulation of the industry next April and already has the power to cap the cost of pay day loans. In an attempt to further tighten controls, in an amendment to the banking reform bill going through Parliament, the Chancellor has now put a duty on the FCA to use those powers to impose a cap. This includes tighter controls on charges including arrangement and penalty fees. Other proposals include limiting the number of loan ‘roll- overs’ to just two.
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Interest Rate Refunds – Banks Under Pressure Again

Ever since the PPI mis-selling scandal banks have been under pressure to compensate customers who have found themselves out of pocket due to error or malpractice. PPI has become a costly business for the banks, with billions being repaid to customers who had been sold an unsuitable product.

Now the banks are under pressure again for breaching the rules, this time for wrongfully charging interest on personal loans due to vital information not being included when issuing arrears notices or loan statements.

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In-house barrister at Redress Law

Congratulations to James Rudall of Redress Law who is now a member of the Honourable Society of Gray’s Inn, following his call to the bar. James previously practiced as a solicitor advocate and will continue to work at Redress, as our in-house specialist advocate and consultant. James has the right to conduct trials in the Crown and High Court, Court of Appeal and Supreme Court.

James will act as a consultant within the Redress Law team. He has particular expertise in contract and commercial disputes, contested wills and cases involving professional negligence.

James Rudall on Google Plus

Property Solicitor Negligence - Causation Case

A recent case of AW Group Ltd v Taylor Walton demonstrates the hurdles that you must overcome in order to be successful in a negligence claim.
It has long been established law that there are three main elements that you must prove in order to succeed in a claim for negligence. There must be:

1. A duty of care
2. A breach of that duty of care
3. A loss that is caused by the breach of duty of care

The basic test for establishing causation is the “but-for” test. Put simply, it must be considered that the claimant’s losses would not have occurred “but for” the negligence. It can often be this third hurdle where claimant’s cases fail, as demonstrated in the recent case of AW Group.
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Will Disputes - Left out of an Inheritance?

The family dispute between three of the daughters of the disgraced Tory MP Lord Anthony Lambton and their brother, Edward over their late father’s estate has, this week, ended up in the High Court.

The sisters are battling it out for a share of their late father’s fortune. When he died aged 84 in 2006 he left his millions to his only son, Edward following an ancient British tradition. He did not leave a single penny of his estate to his five daughters.

The case is unusual because the sisters are arguing that their claim should fall under the jurisdiction of the Italian courts, the country in which their father lived for the 30 years before he died. In Italy, along with much of Europe, the law dictates that a parent must leave a share of their estate to each of their children which places the women in a strong position. There is no such statutory provision in English law.

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