Orders for four repossessions granted

ORDERS FOR possession were granted for four properties including two family homes before Mr Justice Bryan McMahon at the weekly…

ORDERS FOR possession were granted for four properties including two family homes before Mr Justice Bryan McMahon at the weekly chancery summonses hearing.

Some 20 cases were listed before the High Court yesterday, half of which were taken by subprime lender Start mortgages.

In one case involving a family home, an order was granted after the defendants had accrued €19,186 in arrears on a total outstanding balance of €113,665.04. The mortgage had been in arrears since November 2006, while the last payment made was for €500 in September 2007. The court heard how a last-chance letter had been issued to the defendants, who had made no appearance in court on any occasion, nor had engaged in the legal process.

In a case involving AIB, the court heard how the defendants dishonoured the very first repayment that was due on their mortgage. A loan of €71,000 on Sligo agricultural land was granted in 2003, with repayments due to begin in February 2004. The February payment was defaulted on, with only two repayments being made that year. In 2005 only four repayments were made, three repayments in 2006 and none were made in 2007. The judge gave an order for the land, but granted a stay of three months in light of the smallness of the debt.

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An order for possession was also granted in a case involving IIB homeloans after arrears of €18,280.16 had accrued, with a total balance of €78,043.11 owed.