Tuesday 18 December 2018

Six homes seized as mortgage arrears hit

The High Court has granted six repossession orders to lenders who were offered as little as €72 a month in repayments.

The court heard that one man with €109,000 in arrears had paid just €1,750 in two years to his lender, GE Money.

The case was adjourned after High Court Judge Ms Justice Elizabeth Dunne heard that the man had told lawyers for the sub-prime lender that he needed time to sort out his finances as his mother-in-law had recently died.

In another case, a man whose partner had left him offered to pay €35 a week from his disability allowance to meet arrears of some €36,741.

No payments had been made on the mortgage in two and a half years.

The man's lawyer said that he was "overawed" by the repossession proceedings and that his former partner held responsibility for the family finances.


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