Brendan Burgess
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From today's Irish Times
Lender must show ‘mortgage to rent’ is only pilot scheme, court rules
The couple argued that Stepstone should have offered them the mortgage to rent scheme. Stepstone said, that other than engaging in a pilot test of the scheme, they did not participate in it.
The judge ruled that if they did participate in it, they must consider offering it. If they did not participate in it, the mortgage holder has no defence.
"Mr Justice White said in June 2013, Stepstone offered them the option of selling the house and writing off any remaining balance, following the sale, due on the mortgage.
They declined as they were concerned that due to the length of the council housing waiting list and the state of the private rented market that they would be rendered homeless."
Brendan
Lender must show ‘mortgage to rent’ is only pilot scheme, court rules
The couple argued that Stepstone should have offered them the mortgage to rent scheme. Stepstone said, that other than engaging in a pilot test of the scheme, they did not participate in it.
The judge ruled that if they did participate in it, they must consider offering it. If they did not participate in it, the mortgage holder has no defence.
"Mr Justice White said in June 2013, Stepstone offered them the option of selling the house and writing off any remaining balance, following the sale, due on the mortgage.
They declined as they were concerned that due to the length of the council housing waiting list and the state of the private rented market that they would be rendered homeless."
Brendan