The CA gave judgment in the Wilkinson case on Friday July 30th. The borrowers won and the WBBS lost. The CA held that time ran from the initial default despite there being no specific term in the mortgage saying that the mortgage was repayable on default, and that there was no new cause of action on the sale of the property.

This is excellent news for many WBBS shortfall 'victims' and there are likely to be judgments to be set aside and case still pending that should be withdrawn or defended.

The judgment can be found on www.courtservice.gov.uk - go to judgments, then Court of Appeal (BALIII), then 2004 and then scroll down to July 30th.

Guy

-- Guy Skipwith (guy@skipwith107.freeserve.co.uk), August 02, 2004