Wednesday 7 December 2016

Father hits out at refusal to write down loan

Gordon Deegan

Published 19/09/2015 | 02:30

The father of two is facing the ordeal of having his home repossessed by Bank of Ireland
The father of two is facing the ordeal of having his home repossessed by Bank of Ireland

A father of two facing the threat of Bank of Ireland repossessing his family home complained yesterday that the lender is unwilling to write off any portion of his mortgage debt.

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The married man was speaking outside Ennis courthouse after securing a reprieve at the repossession court, where banks had a record 166 repossession applications for Clare before the court.

The man shares his home with his wife and two daughters and he owes a total of €257,000 on his mortgage including €35,000 in arrears.

The man explained how he fell into arrears due to ill-health when he suffered a heart attack three years ago.

However, he hit out at the bank's refusal to countenance writing down any portion of the debt.

He said: "I was told that they do not engage in any write-off of any arrears unlike some other banks. I was seeking a write-down of the interest from €35,000 to €20,000 but I was refused."

He said: "Banks have written off millions owed by people, I was only talking a few thousand."

County registrar Pat Wallace yesterday said no orders for repossession were made due to an "administrative reason".

Irish Independent

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