Mica Homeowner with an EBS Mortgage

[Orlaithmc]

Hi all,

We are in the process of getting our family home assessed and tested to find out if we have Mica in our blocks (it's a given to be honest!).

We need anything between €5,000 - €7,000 to pay for an Engineers Report, Core Drills and sending the Core Drills to a laboratory for testing before we know if we have Mica. If we do have Mica, we will get 90% refunded through the Mica Redress scheme from our local Council.

My question is, should our Mortgage Company EBS help us with a low rate loan in the short term, as our home is an asset to them and is worthless if we have Mica unless we as homeowners do something about it?

Thanks in advance.

 

[Leo]

Short answer is no, I don't see how the bank could be obliged to take any hit on this.

Even if your house is declared worthless, you still owe them the money. It serves your interest to address this with the appropriate urgency.