No JM holders must vacate if proceeds of sale are insufficient to cover the prior charges. Bank solicitors will deal with them. A pain in the ass for the Bank but will not result in them being paid!
I'm interested in this - do you have a legislative citation? Just for my own information.
Yes 8% (simple interest) is the standard Court rate for judgements. A JM will accumulate annualy by this amount. i.e. If a creditor obtained a judgement against you 2 years ago for €1,000 and registered this against your property, it would cost you 1,160 to satisfy that judgement today and remove the JM from the property.The judgement does.
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