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Edwards v Lloyds TSB [2004]

Facts

  • A husband’s fraudulent obtaining of a mortgage led to a mortgagee seeking his jointly held family home to be sold

Issue

  • Could the house be sold under a Trusts of Land and Appointment of Trustees Act 1996, s 14 order?

Decision

  • Yes, but delayed for 5 years

Reasoning

  • Unlike in Bank of Ireland Home Mortgages v Bell [2001], the debt owed was relatively small
  • It was unlikely that the wife’s share would allow her to purchase suitable alternative accommodation
  • By delaying the sale for 5 years, the youngest child of the family home would be able to securely reach the age of 18 (and complete his education)
  • The mortgagee would not be kept out of money indefinitely
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