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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3653
Experience:  Solicitors 2 years plus PQE
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If an Irish bank reposess an investment by appointing a receiver

Resolved Question:

If an Irish bank reposes's an investment by appointing a receiver and sells the property at a loss leaving the owner with a balance owing on the mortgage can the bank then put a second charge on any other property owned but with a different mortgage provider
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Alex J. :

Hi, Thank you for your question and welcome. They would have to apply to court and get a charging order in order to get a second charge for the unsecured balance.

Alex J. :

Unless you had an arrangement where by they already had a signed but undated charge "in reserve" so to speak - almost like an equitable charge.

Alex J. :

Are the other bank objecting to this charge? Kind regards AH

Alex J. :

*AJ

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