Is it any wonder banks stopped doing lifeloans?

[BlackandBlue]

33. However, the reason why the bank is entitled to possession is because the life loan has not been repaid.

From the linked judgement the judge highlights the fact that the bank was seeking "possession" of the property.

There is in my view at least an arguable case that the defence of the statute of limitations arises in regard to the interest claimed.

It would appear that the executrix may have an out regarding the accrued interest.

regarding the following

They should engage with the Executor within a reasonable timeframe.

I am curious as to the fact is there an actual statutory requirement in terms of a time frame for the executor to act?
If so can the executor be held liable for failing to act within the statutory timeframe?