Profile: Consumer Credit
Experience and Expertise
Mark is recommended in the Legal 500 and Chambers and Partners for his consumer credit work. He does work for consumer credit firms, investors in the consumer credit sector and the FCA.
Mark’s expertise extends in particular to the operation of the various partially overlapping regulatory regimes governing consumer credit products and services. He regularly advises on issues in connection with the Consumer Credit Act 1974 and the rules of CONC in the FCA’s Handbook. He has expertise in fairness regimes, such as the unfair relationships provisions in the Consumer Credit Act 1974, the Consumer Rights Act 2015, the Consumer Protection from Unfair Trading Regulations 2008 and the fair treatment of customers initiative.
He regularly advises on the drafting of documentation relating to consumer credit products and has particular expertise and experience in drafting consumer documentation in plain intelligible language. Mark is also often engaged to advise on due diligence exercises in relation to acquisitions involving consumer credit portfolios.
Cases and Work of Note
- Mason v Godiva Mortgages Ltd  EWHC 3227 (QB) (High Court case relating to compliance with responsible lending rules. The first case in which the High Court has considered those rules in the context of a claim for damages under the Financial Services and Markets Act 2000. Sole Counsel.
- Chickombe v Financial Conduct Authority and Barclays Partner Finance  UKUT 0258 (TCC) (Validation order in relation to a £47 million consumer credit loan portfolio brokered by an unauthorised credit broker. Leading case on the relevance of consumer detriment to such orders. Sole Counsel.)
- Nationwide Debt Consultants v Financial Conduct Authority  UKUT 0142 TCC (Significance of record keeping allegations in an application to suspend a consumer credit interim permission.)
- Maoudis v Financial Conduct Authority (2017) BPIR 1555 (Application to suspend the ceasing of an interim permission of a debt management firm.)
- Koksal v Financial Conduct Authority (2016) CTLC 201 and (2017) BPIR 1517 (Tribunal reference challenging a decision refusing to authorise a consumer credit broker. The first consideration by the Tribunal in an authorisation case of its revised jurisdiction under the Financial Services Act 2013).
- PDHL Ltd v Financial Conduct Authority (2017) BPIR 1623 (Application to suspend the ceasing of an interim permission of a consumer credit firm pending a book sale. Led by Javan Herberg QC.)
- Advising on due diligence and regulatory authorisation issues in relation to a multi-billion pound loan pool sale in 2015.
- Financial Conduct Authority v HFO  UKUT 0118 (AAC) (Proceedings concerning the cancellation of the regulatory authorisation of a group of debt collection firms. Led by Patrick Goodall QC.)
- Advising the OFT in relation to a high-profile case in which the licence of one of the UK largest loan brokers was revoked. The case was widely covered in the national press.
- Advising on a due diligence exercise in respect of the purchase of a consumer credit loan portfolio from an insolvent Icelandic bank.
- Advising in relation to the consumer credit documentation of a new High Street bank being set up in the UK.
- Advising a mortgage lender in relation to the application of MCOB to securitised mortgages.
- Office of Fair Trading v Compensation Professionals Network Limited  UKFTT 240 (GRC) (Interlocutory decision in a consumer credit licensing appeal which the OFT successfully claimed public interest immunity in respect of internal documents licence holder was seeking to inspect.)
- Advising the OFT in relation to a debt collection practices of a major credit card provider.
- Advising a bank and a regulator in relation to the territorial scope of the Consumer Credit Act 1974.
- Drafting a defence precedent for use by a well known credit card provider in customer claims to recover credit card charges.
- A long running project redrafting one of the clearing banks account terms and conditions in the run up to the bank charges litigation. These terms and conditions were subsequently favourably considered by the High Court in OFT v Abbey National & Ors  EWHC 875 (Comm).
Mark is an editor of Wurtzburg & Mills on Building Society Law, which he co-edits jointly with colleagues, Malcolm Waters QC, Elizabeth Ovey and Henry Day.
He is also the author, along with Malcolm and Elizabeth, of Retail Mortgages: Law, Regulation and Procedure, published by Sweet & Maxwell.