Supreme Court refuses Houssein appeal over default interest

The UK Supreme Court refused permission on 2 November in Houssein’s dispute with London Credit. The application concerned a bridging loan charging default interest of 4% a month, compounded monthly.

The official summary identifies two questions: when lender conduct obstructing redemption can justify equitable relief from interest, and whether the default provision was a penalty. It reports that, after earlier appellate intervention, the lower courts rejected the borrowers’ challenge.

The permission panel found no arguable or generally important legal point. It also stated that the first ground lacked relevant factual findings. This is a permission outcome, not a reasoned Supreme Court merits judgment.

Official case-page report only; lower judgments were not checked. The 2 November refusal was discovered on 4 November. No Jamaican rate limit or approval is inferred.