there was also 6 years mortgage payments at close to 1,000 per month unaccounted for.
Are you sure? The withdrawal of IR cash wasn't until January 2002, so is it possible bank and mortgage statements weren't changed until then either?A possible explanation?
I like the IR£ to euro explanation, but the dates are wrong.
Thanks Brendan. You are right - it doesn't make sense. We had to make up the difference of the purchase price in cash, as the bank wouldn't lend us the full amount on our salaries. 136,000 was the most they would lend us, so I am surprised at the year end 2001 the balance owing was about 134,000 and on January 1, 2002 the amount owing was 170,000. And you are right about the currency. The euro came in in 1999, and our mortgage was drawndown in 2001, so despite the fact that the bank documents say IRP, the actual currency is euro. I asked the lawyer about this at the time, and he said just to ignore it - although it surprised me at the time that the banks were allowed to draft documents in a currency which effectively, no longer existed.I am not clear on this. Are you saying that you paid €1,000 per month for 6 years to the original lender and they never put them on the bank statements?
That doesn't make much sense. Because, then your statement would just show
1) 2001 - borrowed €136,000
2) 2002 - added €35,000 - so new balance is €171,000
3) Add the interest of about €8,000 a year €48,000 - gives €239,000
4) But the balance transferred was only €136k + €10k
A possible explanation?
I like the IR£ to euro explanation, but the dates are wrong.
Was the original lender Irish Nationwide by any chance?
I never ceased to be surprised by their bank statements. I didn't believe stories people told me, but when I checked the bank statements, the stories were correct. For example, a repayment of €60k was added to the balance, instead of being deducted from it.
If the lender is still in business, and they have made a mistake, they will rectify it, even if it is 13 years old.
Brendan
So, you got the very first Euro mortgage in the country, a year before anyone else?The euro came in in 1999, and our mortgage was drawndown in 2001, so despite the fact that the bank documents say IRP, the actual currency is euro.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?