Will the bank register a High Court judgement against my home?

[Ger Lyons]

I recently had a judgement for circa140k ordered in High Court awarded to a pillar bank.
I live alone with no other debt .
I repay 1700 k out of. 3400k salary for home mortgge.
House value 350 k remainining mortgage 110k.
What are they likely to do instalment order, judgement mortgage or both?

Really appreciate any feedback .

Thanks

 

[Brendan Burgess]

They are likely to register the judgement against your home, but not take any further action.

If you sell your home, the mortgage would have to be paid from the proceeds.

In theory, they could seek an order for possession, but they are unlikely to do so.

I think it lasts for 12 years so they might take action before the 12 years is up to avoid it lapsing.

Brendan

 

[Ger Lyons]

Hi Brendan,

Thanks for the swift reply,thanks its very helpful .
My home loan mortgage will be paid off in full in nine years.
Is the most likely development that they wait until then to seek an order for sale ?

 

[ClubMan]

I recently had a judgement for circa140k ordered in High Court awarded to a pillar bank.

House value 350 k remainining mortgage 110k.

Just to be clear...
Are you saying that you have €110k remaining on your mortgage and you are meeting capital and interest repayments on this?
And, in addition, you have another €140k debt which has been registered against the property and which you are not repaying at the moment?

My home loan mortgage will be paid off in full in nine years.

You mean the €110k?
Or the total €250k debt?

 

[Ger Lyons]

Hiya Clubman,
Thanks for the question.
Yes the total outstanding at the moment on the home loan is 110k which i am reaying in full both capital and intetest.
It will be cleared in nine years as per the mortgage contract.
The high court judgrment is for 140 k towards which i am not paying anything