Tuesday 15 October 2019

'We've had threats and hate mail over home repossession' - celebrity couple

Ronan Ryan and Pamela Flood. Photo: Gerry Mooney
Ronan Ryan and Pamela Flood. Photo: Gerry Mooney
Amy Molloy

Amy Molloy

Restaurateur Ronan Ryan says he and his broadcaster wife Pamela Flood have received "threats and hate mail" - and that they paid some money to the bank while living in their home which is being repossessed.

Last week, a court was told banks had agreed the couple could walk away without paying any of the €1.2m debt owed against their north Dublin home.

Mr Ryan and former Miss Ireland winner Ms Flood were told they would also not have to pay the legal costs incurred by two banks while trying to repossess their family home at Mount Prospect Avenue in leafy Clontarf.

Speaking to the Irish Independent, Mr Ryan said the story "looks horrific" when you only had one side of it.

"It's just one side [you hear in court], it looks horrific ... it looks like we sat in a house for nine years looking for a free place to live, but we were paying interest all along until we were told not to," he said.

"We've got the threats and the hate mail and the hate messages and the Twitter pile-ons, but both sides of the story weren't told.

Repossessed: The house in Clontarf, north Dublin, which they will vacate by July
Repossessed: The house in Clontarf, north Dublin, which they will vacate by July

"I wasn't allowed speak, I wasn't in the court but, look, it is what it is."

Discount

Mr Ryan said the "real story is how a vulture fund buys a loan at a discount and sells it for three times the amount".

He said they tried to sell the house on three previous occasions but "the offers weren't high enough". "Different people have had the loan over a different period of time.

"We would have been gone in 2011, 2013 and 2016 only for they wanted the asset to appreciate, which it has massively. Now they walk off into the sunset with the money. I have no animosity towards them but this is the fourth time we've tried to sell the house.

"We had to pack our bags and take my pregnant wife out of the house every Saturday so people could view it the first time around but they weren't happy and wanted the asset to appreciate and we were told to remain in the house."

The couple gave the American-owned Tanager bank an undertaking they and their children would have vacated the property by July 9 next.

"We're looking around elsewhere. As soon as we have something else, we'll be out," he said. The businessman was critical of how they didn't get to give their version of events in the Circuit Civil Court.

The court was told Ms Flood and Mr Ryan, who had taken out a €1.1m mortgage with Bank of Scotland just before Christmas 2006, had consented to the court granting Tanager an order for possession against them.

Irish Independent

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