Category Archives: Mortgage

The Supreme Court, Full Recourse Loans And Legal Advice

AIB Mortgage Tine BombIn Whelan v. AIB (Unreported Supreme Court 30/1/14) the third plaintiff, his wife and children, contracted for a loan to purchase land in Waterford for €25 Million, which later had a value less than €5 million. The third plaintiff was a successful businessman. The loan agreement was on a full recourse basis to all plaintiffs and the documentation was signed by the first plaintiff who had been granted power of attorney from the other plaintiffs. The plaintiffs argued that they had insisted at all times that the loan be on a recourse to property only basis. The first solicitor firm was advising the plaintiffs in relation to the conveyancing. The second solicitor firm was advising the plaintiffs in relation to...
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House sales boom and prices rise as buyers move in

SEVEN years ago, Rob Taylor's three-bedroom West Bridgford home was worth £170,000. Following a large kitchen extension, its value shot up to between £210,000 and £220,000. And now that the property's valuation has climbed even higher, much to the surprise of Rob and his wife Sarah. He said: "We are looking to move to somewhere which is larger and we have now had the house valued at around £245,000. I was shocked. But this is a fantastic area for people to live in." Read the full story via House sales boom and prices rise as buyers move in | Nottingham Post....
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Loans for house purchase still falling

Loans to households and business continued to decline last month, according to new statistics from the Central Bank.

Household loan repayments exceeded drawdowns by €856 million in January, as loans for house purchases continued its decline, falling by €416 million.

This followed on from a net monthly decrease of €143 million in household loans in December.

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What is a Solicitor?

so·lic·i·tor/səˈlisitər/

Noun:
  1. A person who tries to obtain business orders, advertising, etc.; a canvasser.
  2. The chief law officer of a city, town, or government department.
Sean O'Brien - O'Brien Ronayne Solicitors TallaghtSean O'Brien is the founder and partnet of a team of solicitors in Tallaght; but what exactly is a solicitor, what do they do and how can they help you? Despite most Irish towns having at least one firm of solicitors, many people are unclear as to why we're here and what we can offer. You'll also hear us referred to as lawyers and there are two types of lawyer: solicitors and barristers. A barrister is a legal professional who represents you in court....
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Mortgage Time Bomb

AIB Mortgage Tine BombReports in the newspapers today suggest that the AIB faces a mortgage time bomb by virtue of the fact that staff facing redundancy owe the bank a total of €2 billion in mortgage debt. Over the last few days, the Taoiseach has admitted that the government has failed to deal  with the question of distressed mortgages, perhaps now  the situation in AIB will force its hand. Over the last number of years in this office we have come across a number of decent individuals who have made sensible suggestions to the banks regarding their arrears and the sale of property in negative equity, in the vast majority of these...
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