Republic of Ireland Law
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I was sold a property mortgage 7 years ago in euro on a sterling property which has now resulted in a significant loss. Can I take a case of continuous miss selling against the bank?
I live in the south of Ireland and have two loans with Bank of Ireland for properties in Belfast. I had an interest only mortgage for seven years, but now they want to return to capital payments which I can't affford for two reasons, 1. sterling has depreciated by 25% since the mortgage was taken out and 2. the price of the property has dropped. Also I would never have been able to repay the capital and interest amonts originally indicated. It is now apparent to me that the bank should never have given me a euro mortgage on a sterling property, this was in their own self interest to maximise returns for the bank in the south. I'm told that its statute barred in the south but it may not be in Northern Ireland. Can you give me some pointers?
yes I'm ok waiting, but will I still be charged if you cant provide an answer?
OK. Please look for someone to help.