Brendan Burgess
Founder
- Messages
- 52,099
A good article here on a recent High Court Judgement
https://www.lexology.com/library/detail.aspx?g=d0fb1a37-230a-4ad9-a350-cbd5edd0c7fb
Breaches of Voluntary Codes of Practice
Finally, the Appellants argued that the failure on behalf of BOI to comply with the Central Bank Code of Practice on the Transfer of Mortgages and the Code of Conduct on Mortgage Arrears rendered the transfer of the loan invalid. Mr Justice Binchy accepted that BOI had not complied with the requirements of either voluntary code, but rejected the argument that this prevented BOI from enforcing its security. The court stated that it was "well settled that non-compliance with a voluntary code … does not afford a borrower any relief against an application for judgment, or for possession arising out of default", and that the Appellants' only recourse in this regard would be to lodge a complaint with the Central Bank of Ireland.
https://www.lexology.com/library/detail.aspx?g=d0fb1a37-230a-4ad9-a350-cbd5edd0c7fb
Breaches of Voluntary Codes of Practice
Finally, the Appellants argued that the failure on behalf of BOI to comply with the Central Bank Code of Practice on the Transfer of Mortgages and the Code of Conduct on Mortgage Arrears rendered the transfer of the loan invalid. Mr Justice Binchy accepted that BOI had not complied with the requirements of either voluntary code, but rejected the argument that this prevented BOI from enforcing its security. The court stated that it was "well settled that non-compliance with a voluntary code … does not afford a borrower any relief against an application for judgment, or for possession arising out of default", and that the Appellants' only recourse in this regard would be to lodge a complaint with the Central Bank of Ireland.