The Weekly Law Reports
[2002] 1 WLR 685
Court of Appeal
Paragon Finance plc v Nash and another
Paragon Finance plc v Staunton and another
[2001] EWCA Civ 1466
2001 July 24,
25;
Oct 15
Oct 15
Thorpe, Dyson LJ and Astill J
Mortgage
— Agreement
— Interest rate
— Mortgage containing variable interest clause
— Mortgagee increasing interest rates during mortgage term
— Increases exceeding increases in market rates
— Whether implied term requiring mortgagee to vary interest rates fairly, honestly, reasonably and in good faith
— Whether mortgagee in breach of implied term
— Whether mortgage agreement extortionate credit bargain
—
Consumer Credit Act 1974 (c 39), ss. 137(2)(b), 138
[1]
—
Unfair Contract Terms Act 1977 (c 50), s. 3(2)(b)(i)
[2]