Judge gives Wicklow couple two years to sell €1.4m home
The Wicklow PeopleA couple facing the repossession of their home have been given two years to sell the property after reaching an agreement with their mortgage lender.
Mars Capital Finance Ireland, Patrick Soper and Deborah Vard appeared at a sitting of Wicklow Circuit Civil Court in relation to an application to repossess their home at Gower House, Windgates, Greystones, Co Wicklow.
Counsel for Mars Capital, Sam Todd, informed the court that Mr Vard has outstanding mortgage arrears of €311,000, but his client was seeking a stay due to reaching an agreement with the respondents to sell the property.
Mr Soper, who represented himself as he had no legal representation, said the property is worth well in excess of €1 million, with him having previously had it valued at €1.4 million several years ago.
Judge John Martin asked Mr Soper if he had looked for alternative accommodation, remarking: “You will still have a million left over.”
It was noted that Mr Soper has “been involved with the process since the start”.
However, a stay was granted as the mortgage is a post-2009 mortgage.
In Ireland, mortgages created after 2009 are subject to different legal provisions and borrower protections, which can affect how repossession and enforcement proceedings are dealt.
Judge Martin placed a stay on the repossession order for 24 months and made no order as to costs, stating: “You have two years to sell. It will give you some breathing space to sell.”