Courts / Limerick / Report

Proposal that pensioner make mortgage repayments until she is 98 is rejected

Date
2021-04-29

Stage
Hearing Or Decision

Primary locality
Limerick

Summary

In a High Court hearing, Mr Justice Mark Sanfey refused to approve a Personal Insolvency Arrangement (PIA) proposed by 69‑year‑old Ann Fennell, who owes Ulster Bank €72,500. The PIA would have extended her mortgage repayments to 348 months, meaning she would continue paying until age 98. The judge found that such a term would likely exceed the debtor's lifespan and that Fennell had not shown the repayments were affordable or sustainable. Ulster Bank opposed the PIA, arguing it was unsustainable and that the costs of keeping her in her home were disproportionate. The court noted that only a legislative amendment could permit lifetime mortgages. The appeal was dismissed, and the case will return for final orders.