No probate official in Limerick so Seniors money payment delayed and accruing interest

C

ciarano

Registered User
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Hi there,

We met with our family solicitor to sign the final documents to allow our mothers will go to probate ,unfortunately we have been advised the Limerick probate official has retired and there awaiting a replacement so therefore we now have to go through the Dublin probate office ,

My mam had a seniors money loan and our will is straight forward seniors balance to be paid on sale of house and balance divided 4 ways ,However now that the probate is going to take longer as going Via Dublin were going to have to wait longer before selling the house also meaning Seniors will make more money ,

Before knowing about the delay in probate we paid a good will gesture to seniors a lump sum to keep the loan in order but now we are going to be penalized through no fault of ours because limerick has no probate official, Can we ask Seniors to agree on a final figure as will now awaiting probate OR can they keep the interest going (Possibly another 8 months estimate)

Thanks
 
ciarano said:
we paid a good will gesture to seniors a lump sum to keep the loan in order but now we are going to be penalized through no fault of ours because limerick has no probate official,
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Paying the lump sum to Seniors Money will benefit you as it will have reduced the interest charged. If you have the money to clear the loan, Seniors Money will stop charging interest.

You are being penalised by the delays in the Probate Office and not by any action by Seniors Money. So I am not sure why Seniors Money should reduce the interest being charged on the loan?

Brendan
 
Hi Brendan,

I hope you are keeping well,?

Ah OK I Understand and thanks a mill for the speedy reply

Kind regards
Ciaran
 
UPDATE

Probate finally came through from Dublin END OF MAY ,Solicitors and sister have always kept seniors money up to date ,

We are hoping to get the all clear to sell the house in the next week or so yet Seniors money sent a nasty email advising a formal demand of payment within 10 days and face court action and cost of €10,000,

I called Seniors Money again advising of delays outside of our control and got back again another email stating "As you have advised an auctioneer is to place the property on the market for sale and the Grant of Probate has now been lodged, Seniors Money Mortgages are agreeable to an extension of the redemption date until 09/01/2025. This has been granted to allow Probate to be issued, the property sold and the above-mentioned loan repaid in full."

Woeful people to deal but hopefully house will sell fast and we can be rid of them

Thanks Brendan ET Al for all the advice
 
ciarano said:
We are hoping to get the all clear to sell the house in the next week or so yet Seniors money sent a nasty email advising a formal demand of payment within 10 days and face court action and cost of €10,000,
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A few issues here.

There is some time restriction on lenders after a borrower's death. If the money is not paid, they must initiate legal action or lose the right to recover the money.

There might also be a Central Bank code about what must be in the letter. These make normal formal letters look very frightening.

A lot of children resent paying their parents' debts and would do what they could to avoid them.

So it does not sound as if Seniors Money was being unreasonable.
 
Good Morning Brendan
Yes the Solicitors have been delaying us unfortunately. Probate granted so all were waiting on is the solicitor to give the go ahead for us to sell as we submitted the engineers report 2 weeks ago
Many Thanks
 
Brendan Burgess said:
Many people sell a house subject to probate being granted.
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I’m in the market and I wouldn’t bid on a house without a grant of probate. Too much risk.

A very simple recent estate in my extended family took six months from application to grant of probate (Dublin). Everyone (executors, estate agent, family) thought it better to wait before putting it on market.
 
I would be happy to bid on a house waiting for probate. Would give me time to sell my own/apply for mortgage etc. Also maybe slightly less competition and potential to get a caretaker agreement and move pending purchase?
 
Dr Strangelove said:
I’m in the market and I wouldn’t bid on a house without a grant of probate. Too much risk.

A very simple recent estate in my extended family took six months from application to grant of probate (Dublin). Everyone (executors, estate agent, family) thought it better to wait before putting it on market.
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Probate granted so all were waiting on is the solicitor to give the go ahead for us to sell.Thanks
 
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