A couple of points(posted 7936 days ago)"Reserved judgment" means that the judges need time to think about it and/or write it up. They are not waiting for anything else. In these cases they have issued a one page 'note' of the judgment, with the full version to follow at the judges leisure.
On the point of the 'accrual of the cause of action', yes it is the first default that under the terms of the mortgage allows the lender to take court action (and not the repo or sale of the home), although a cause of action is restarted by any written and signed acknowledgment made by a person or any part payment made by any joint debtor.
Default may have first taken place in, say, 2nd March 1990. Time will have started to run at that date and if no acknowledgment or given or part payment made, the debt will be statute barred if proceedings are not issued by the end of 1st March 2002.
However, if a written acknowledgment was given in, say, Feb 1996, the 12 year period will have started to run again from that date.
One other point, relating to the different periods for the recovery of principal and interesr (12 and 6 years): there is case law that says categorically that once the principal sum is statute barred, so is any interest that relates to it (Elder v Northcot).
Thus, in the first example, where the debt became statute barred on 2nd March 2002, all interest will also be statute barred, even though it accrued within the last 6 years.
Guy