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TweetNational Australia Bank Ltd v Rose [2016] VSCA 169: Consumer Guarantors In the case of National Australia Bank Ltd v Rose [2016] VSCA 169, delivered on 21 July 2016, the Victorian Supreme Court of Appeal determined that National Australia Bank did not properly inform a customer who went guarantor for $8 million in loans, meaning he would not have […]

The HSBC Bank was appealing against a decision where it was found to have acted unconscionably when it provided a loan to the husband with the wife acting as guarantor.

The bank was now arguing whether it was arguably unconscionable for the lender to enforce a mortgage where the loan has not been repaid.

HELD : The third party guarantor must have “quality” legal advice, not just any legal advice otherwise it is not enforceable on the guarantor.

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