Sunday 4 December 2016

Frustrated mum now faces losing her home

Shane Hickey

Published 31/03/2010 | 05:00

MOTHER-OF-ONE Nicola Ryan is frustrated that the banks are being bailed out while she faces the prospect of having her home repossessed.

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After losing her accountancy job late last year, she is now relying on mortgage protection insurance to cover monthly repayments on her house in Kilkenny city.

"I think the situation with the banks is a joke to be honest. The banks being helped out while they can still get people out of their homes is a joke -- there should be some leeway somewhere," she said.

Her partner Kevin Spratt is also not working at the moment and they are worried about meeting their monthly €700 repayments when the insurance ends later this year.

"How could you not be frustrated? I paid my taxes -- incredibly high taxes at one stage -- I paid for myself through college, I paid everything that was ever asked of me to pay and come next October we could end up with the bank getting the house if I don't get a job."

Added to this is the frustration that their three-bedroom home, bought in 2005, is now worth €130,000 -- considerably less than the €175,000 they paid.

Irish Independent

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