Judge grants possession orders to lenders in seven cases

ORDERS FOR possession of homes and properties were granted to banks and mortgage lenders in seven cases before the High Court yesterday.

Loss of jobs, marriage breakdown and negative equity were factors in several cases outlined to Ms Justice Elizabeth Dunne.

Some 66 cases appeared on the chancery summons’ list but, as in recent weeks, the vast majority of cases were adjourned. She adjourned one Bank of Ireland case involving three properties as a contract had been drawn up for the sale of one of the properties.

The bank had argued that more than €800,000 was outstanding so even if the three properties were sold, at €180,000 each, it would not cover the amount owed.

On hearing that the contracts had not yet been signed because the bank had not consented to the sale, Ms Justice Dunne said she did not like to hear of these “catch 22” situations where the bank was not facilitating the disposal of matters. She asked that her remarks be passed on to the bank.

The court heard that the property owners had been upfront with the bank and had drawn up a detailed strategy to make the repayments. They were also willing to sell agricultural lands worth €110,000. She adjourned the case until late next month.

Earlier, she granted an order of possession to Start Mortgages for a family home in Donegal. The couple had taken out a €200,000 loan in May 2005 to consolidate their borrowings and to carry out home improvements.

However, arrears began accruing three months later and the court heard no explanation for the failure to make payments.

Marriage problems were cited in another case involving a family home.

The couple had taken out a €100,000 loan from Stepstone in February 2008 but fell into arrears in June and the arrears now totalled more than €14,000.