Paper details:
Assessment Task:
Question
In June 2016 Freddie. Geraint and Howard started work as trainee doctors in Cardiff. Given the price of
properties in Cardiff, they decided to buy a house in the valleys together to live in together whilst they
completed their training. They intended to sell it afterwards in order to pay off their student loans.
Freddie contributed £35,000, Geraint contributed £30,000 and Howard contributed £25,000 to the purchase
price.
The Transfer to them states that they are Joint Tenants in law and equity.
In December 2016. Freddie was involved in a skiing accident. As a result. he was unable to work but he
continued to live in the house. In May 2017, he was struggling financially and mortgaged his interest in the
house.
In June 2017. Geraint was seconded to Great Ormond Street hospital. Whilst there, he met Isabelle and moved
in with her. He has now decided to remain in London for the foreseeable future.
It is now May 2018. Howard’s partner Jemima and their newborn baby have moved into the house.
Geraint wants to sell the house to recover his equity in it but Freddie and Howard want to keep it.
Advise the parties, supporting your advice by reference to relevant legislation and case
authorities.
One
To act independently in planning and undertaking tasks in the context of legal concepts and considerations
relevant to financial advice in England and Wales
Two
To demonstrate a knowledge and understanding of the legal concepts and considerations relevant to
financial advice in England and Wales
Three
To analyse and evaluate the legal concepts and considerations relevant to financial advice in English and
Welsh law and to apply the same to factual and problem based scenarios
