Woman who owed €18,000 arrears saves Dublin apartment

Physical training instructor based in Spain owed Permanent TSB €18,000

Permanent TSB was given liberty to apply again to the court should there be a failure in making agreed repayments. Photograph: Stephen Hird/Reuters

Permanent TSB was given liberty to apply again to the court should there be a failure in making agreed repayments. Photograph: Stephen Hird/Reuters

 

A physical training instructor who fell behind on mortgage repayments for her Dublin apartment, which she was renting out for €800 a month while working in the Costa del Sol, has succeeded in saving her property.

Tomas Keys, counsel for Permanent TSB, has told the Circuit Civil Court an order for possession of the apartment in favour of the bank could be adjourned generally with a permanent stay.

Judge Jacqueline Linnane had heard that Audrey Spearing, of Guadalmina, San Pedro de Alcantara, Malaga, owed Permanent TSB €18,000 arrears on her €275,000 mortgage before an order for possession of the apartment in Adamstown Avenue, Dublin, had been made against her.

Ms Spearing told the court she had been living and working in Spain but last year had lost her job. She said she hoped to save her apartment from resale as she might like one day to return to Ireland.

Mr Keys told the court Ms Spearing had maintained payments agreed with the bank since her last court appearance after having agreed to meet bank representatives for talks.

“The bank is satisfied she is now engaging properly and constructively with them and both parties now consent to the possession order, with a permanent stay, being adjourned generally,” Mr Keys said.

In October last year, when Ms Spearing told the court she had been sending home €600 a month to meet the difference between rental income from the apartment and the €1,400 monthly mortgage repayment, Judge Linnane told her she had not paid anything towards the mortgage since April of 2014.

The judge had said the court had been led to believe the €800 rent was being lodged towards the monthly repayments but this had not been the case. She warned that arrears would become unmanageable if not addressed.

The bank was given liberty to apply again to the court should there be a failure in making agreed repayments. Ms Spearing, who has represented herself at previous court hearings, was in court again today to consent to the new arrangement with the bank.