The High Court has proposed granting Pepper Finance Corporation (Ireland) DAC possession of Paul and Sharon Meredith’s home in Coolock after finding that Pepper retained legal title to their mortgage and registered charge.
Mr Justice Conleth Bradley said the evidence established, on the balance of probabilities, that the loan, mortgage and charge remained with the same legal entity despite a company name change and later securitisation arrangements. He rejected the Merediths’ argument that transfers of beneficial ownership deprived Pepper of the right to seek possession.
The case was heard as a plenary action on 23 September 2026 after an earlier High Court judgment sent Pepper’s summary possession application to a full hearing. Pepper had originally obtained a Circuit Court possession order in January 2024, but the High Court remitted the matter in January 2025 because it was not then satisfied that the required proofs had been made.
The Merediths accepted that GE Capital Woodchester Home Loans Ltd advanced them €200,000 in 2007, that they mortgaged the property as security and that repayments had fallen into default. Paul Meredith told the court he was concerned about who owned the mortgage and whether they might ultimately have paid the wrong entity. He disputed that Pepper had proved ownership of the original agreement. The couple represented themselves.
Pepper’s witness, senior manager Justin Nevin, gave evidence that GE Capital changed its name to Pepper in 2012 and that Pepper later re-registered as a designated activity company. The judge found the companies were the same legal entity and that legal title to the loan and security had never been transferred. The beneficial interest, he found, moved from GE Capital to Windmill Funding and later to Balbec Loan IE IV Limited, subsequently renamed Lagado Assets IE IV Limited.
The court heard that the last mortgage payment was €1,129.73 on 30 May 2019. At the hearing, the outstanding debt was approximately €295,000, including arrears of about €174,000. The judgment also records that Pepper demanded payment in April 2022 and that solicitors demanded payment or vacant possession in July 2022.
Bradley found Pepper had established the required ownership and entitlement to possession, and that the beneficial ownership transfers did not defeat its claim. He proposed an order for possession of the property at 77 Ferrycarrig Road, Coolock. The court has not yet made the final order: it will hear the parties on the precise wording and any consequential matters, including costs. The matter is listed for mention on 30 October 2026.