Executrix challenging Bank of Ireland's efforts to seek repayment of LifeLoan

[Brendan Burgess]

Bank seeks possession of deceased woman’s home on foot of loan when she was aged 86

Woman, now deceased, borrowed €60,000 at the age of 86

www.irishtimes.com

2006 - Woman borrowed €60k on a Life Loan

July 2008 - Woman died.

2015 - Bank called on estate to repay the loan
2019 - BoI commenced proceedings

Executrix claims
It's statute barred because the bank should have begun proceedings within 2 years of the borrower's death
She is also challenging the rate of interest

The bank claims that there is no defence to their action.

The judge reserved judgement.

Brendan

 

[Brendan Burgess]

The two years surprises me but I had heard that before.

A friend of mine was an Executor and was told by the bank that if he didn't repay the mortgage, they would be forced to seek an order for possession to protect themselves.

Brendan

 

[Dr Strangelove]

It's statute barred because the bank should have begun proceedings within 2 years of the borrower's death

Was the bank aware of the woman’s death even?