This arguemnt was known in 2004/05 that is why the government revoked Section 127 (3) and handed the arguements and remedies back to the courts.

Therefore the line has been drawn in the sand and revocation was the stick used to draw the line, The bank now know that for every day they delay more agreements fall through the net. They have already started to recoup huge amounts of money by increasing interest rates on loans. LLoyds 12 months ago 4.9% apr cost to the bank 3% NOW loan rate 7.9% cost to the bank 1,5%. Welcome rates 15% 2008 65% 2009. Make your own mind up. Even the lenders legal representatives fought tooth and nail to stop the FSA/OFT breaking the point of sale ....sale of PPI/ASU policies.......vested interets.