14 April 2017
Bank of Scotland plc v Hazel and another [2016] Lexis Citation 711, [2016] All ER (D) 212 (Oct)
The Queen’s Bench Division held that a bank had been entitled to rely on its security to receive the entire proceeds of a re-mortgage, to appoint receivers in respect of a property that the defendants had defaulted making loan repayments on. The court further held that the bank was entitled to possession and an equitable mortgage over two properties in circumstances where the defendants had defaulted on two loan agreements with sums outstanding exceeding £700,000.
