ROI Mortgage Arrears following me to the UK

[Gillywilly]

In 2003 we moved to ROI bought a house got jobs and all was well,
we took an additional loan to complete major renovations on our house (which were never completed)..

Then the recession started, we both lost our jobs we continued to talk to the bank
but there was no help available and there was no other work and no way of making a living. We put the house up for sale and handed the keys back

In 2009 my mother died suddenly and I realised I couldn't carry on in ROI.
We then moved back to the UK, I bought a house in my sole name with my inheritance

We had heard nothing from the bank from 2009 until last weekend
we received a letter from a solicitor saying that they had been instructed as the mortgage
and additional loan is in arrears and the interest is continuing to accrue!

The amount they want is 366K which they want in 7 days,
if that is not paid they are going to issue summary proceedings in the High Court
to seek judgement with costs and interest.

We have heard nothing from 2009 to now no letters or phone calls....
..why is this happening now?

When we moved to the UK we have had to start again and we have a debt management plan here.

I am terrified what does all this mean?
what will happen?

our life in the last 9 months is just starting to pick up

[Diana M]

Re: ROI Mortgage Arrears following me to the UK

Hello Gillywilly,

I can see how a letter demanding £366k to be paid in seven days would come as a bit of a shock to say the least. Especially if you've had no contact from them since 2009. When was the property repossessed (date of the possession order) and when exactly in 2009 was the last contact between you and your lender?

Who is the lender?

How much was the original mortgage loan, and do you have an idea of the balance outstanding when the property was (voluntarily) repossessed?

You say you put it up for sale, so how much was it marketed for at the time?

Finally, can you clarify if the original mortgage (now being chased) was in sole or joint names? Have I understood it right that the current property (your home) is in your sole name having used your inheritance to purchase it?

I'm sorry this problem has come back to haunt you after all this time.

Di

[Gillywilly]

Re: ROI Mortgage Arrears following me to the UK

Hi Di Thank you for your reply. We have never received a possession order, the mortgage was with Permanent TSB and the loan was with AIB. We bought in 2003 and (I will check this) but I believe the orginal mortgage was for approx 160k and additonal loan for 60K we put an 80K deposit on the property. We stopped paying the mortgage in 2007 when the recession bit hard.

[Gillywilly]

Re: ROI Mortgage Arrears following me to the UK

Sorry also meant to say the property in ROI was joint, UK house is in my name, the UK house has around 140k equity but our ages would make it very difficult to start again.

- - - Updated - - -

Our last contact with ROI bank was probably 2007/2008