Well I strongly disagree that a borrower that has paid absolutely nothing (or only made trivial payments) for years and is not engaging with his lender should not have a repossession order made against him simply because his mortgage is included in a review.
More importantly, I'm positive the Courts wouldn't agree with your view.
a repossession order should not be granted pending the results of the review, and I stand by that.
Regardless of the circumstances of any individual case, your view is that no repossession order should (would?) be granted in respect of a mortgage that is included in a tracker review, pending the completion of that review. Full stop. No exceptions.
You specifically referenced a borrower that is making no repayments at all and suggested that no repossession order would be made in those circumstances simply because the mortgage was included in a tracker review. Frankly, I think you are fooling yourself and I am absolutely positive that a Court would not defer the making of a repossession order solely on that basis.
For a second time, you have tried to drag the discussion off to what you consider a meaningful payment. Why? If no repossession order can be made pending the completion of the review why would it matter whether a borrower is making any payments at all - meaningful or otherwise.
Mr Verbraeken declined to say how many KBC customers may have lost their homes as a result, adding that a loss of ownership is very often multi-factorial and there can be a number of items at play.
A judge will take each case on it's own merits.
You've introduced "would", I said "should" ie a possession order should not be granted pending the review.
The only reason the borrower, in the case I referred to, stopped paying altogether was because he felt he had no chance whatsoever of recovering the situation when his rate was 4.5% on a loan of €400k odd.
You were the one who introduced negligible and trivial payments and you don't seem to get the point that a payment of €300pm on a €500k loan @4.5% is not the same as the same payment on the same loan on a tracker of 1%.
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