Judge refuses lender's bid to repossess home
A JUDGE has refused an order allowing Irish Life & Permanent (IL&P) to repossess a family home that was mortgaged for €258,000.
Malcolm and Susan Duff faced losing their home at The Square, Collon, Co Louth, at the end of this month, but Mr Justice Gerard Hogan in the High Court granted their appeal against a Circuit Court order permitting IL&P to secure possession on February 28.
Mr Justice Hogan said his judgment may have implications for "general relationships" between lenders and borrowers.
A central issue in the case was the couple's claim that IL&P failed to comply with the Central Bank Code of Conduct by not engaging with them about their capacity to repay mortgage arrears.
The Duffs took out a 25-year mortgage with IL&P in 2003.