In case of negative equity what right have banks to seek shortfall

Hi Gekko - that's my understanding of the law. Last year in ICS Building Society v Grant, Justice Peter Charleton held that a tort of reckless lending does not exist in law as a civil wrong. I don't think another judge has contradicted this since.

The Irish Property Council are currently looking for funding to take a reckless lending case and I've come across several Irish Times and Examiner articles mentioning that New Beginnings are looking to take a similar case. But as of today I think that ICS Building Society stands.
 
You should not speak to a bank on the telephone, this will not get you anywhere. Everything should be done in writing. You previously stated that you used your savings to pay the mortgage, but if you are both employed, you would be entitled to mortgage supplement. Have you applied for mortgage supplement? Are you entitled to mortgage supplement?
 
Hi

There are no end of specific examples of the banks not engaging with customers no matter when they tried to contact them.
 

Ive applied for this supplement, paper work sent in and will take some weeks yet, Im hoping on this lifeline unless one of us find work soon it will our situaton will be disasterous. Like many thousands without work and trying so hard to find work its very difficult to manage day to day living, bills, the mortgage was a chunk of our outgoings and social welfare payments are only covering our living costs modest as they are. Our weekly income is just over 400 pw It just is not sustainable to have a mortgage of 1200pm. I can say if the banking crisis did not occur we would both still have our jobs as it was the downturn which was the reason given for me losing mine. Being angry at the banks is just a normal reaction, it doesn't solve the problems and there is little hope given the grim details of the Keane report which offered little insight or hope for the future. I would love nothing more to go back to paying my bills and mortgage and get on with raising the family, no fancy expenditures we were proud home owners like all the rest, I just can't see a way out of this for us, it may be the case of starting again, but ordinary people don't want the labels or the stigma that will be with us for many years to come
 
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