Buy house, don't pay mortgage, live rent-free for 9 years. MOD WARNING POST #268

Cyrus · 23-08-2019 10:05am

mariaalice wrote: »

The actual location and type of house do not matter nobody is entitled to a keep property they have not fully paid for just because it is more modest that someone else's.

I happen to think anyone getting enraged about it is stilly though.

of course not, i agree, but the story being pushed by the media is that this is some sort of gilded palace because it gets people more worked up.

Old diesel · 23-08-2019 2:08pm

Cyrus wrote: »

mariaalice wrote: »

The actual location and type of house do not matter nobody is entitled to a keep property they have not fully paid for just because it is more modest that someone else's.

I happen to think anyone getting enraged about it is stilly though.

of course not, i agree, but the story being pushed by the media is that this is some sort of gilded palace because it gets people more worked up.

Exactly - every time I thought of this house - I had visions of a castle even though I did see a picture of the house but the relative humbleness of the gaff didn't really register - the castle image remained .

Part of the issue is the amount of money linked to it.

MIKEKC · 23-08-2019 10:07pm

sunnyday1234 wrote: »

foced , lol:-)

Probably didn't need forcing, delighted to get it, forgetting about the future

SirChenjin · 23-08-2019 10:22pm

Pinch Flat wrote: »

So when I read these stories I’m enraged by the gaul, entitlement and shear brazenness of these parasites who make a joke of the whole system. No doubt if they were a working class couple with out influence and connections they’d be out on their ear by now. Shameless entitled behaviour that absolutely sickens me.

Completely agree. Saw similar happen with neighbours. He lost his job and they ended up having to sell up. Heartbroken to do so, but they had to, in order to settle their debts.
And then you see the likes of these, and you wonder...

Spanish Eyes · 24-08-2019 7:22pm

Connections and legal eagles at their fingertips no doubt.

I think one judge in this case is pretty fed up to have been overruled.

They will have to go eventually. They have cement necks to keep this going though. The publicity is enough to break most people, apart from these jockey's blx neck heads.

No embarrassment at all. Well I suppose at their candlelight suppers they will regale their friends about how they managed to beat the system that the plebs had to deal with or something.

Spanish Eyes · 24-08-2019 7:23pm

Oh and I wonder how many similar cases are still ongoing, where the defaulting party is not well known.

I think I know the answer...... thousands.

Poor_old_gill · 30-08-2019 6:47pm

The Ryan's house is only around the corner from mine - the fact that they have a 191 jeep outside is just a ridiculously arrogant 2 fingers to us idiots who actually pay our mortgage.

I'd gladly keep the money and not bother paying if thats a live option.

30-08-2019 7:11pm

Poor_old_gill wrote: »

The Ryan's house is only around the corner from mine - the fact that they have a 191 jeep outside is just a ridiculously arrogant 2 fingers to us idiots who actually pay our mortgage.

I'd gladly keep the money and not bother paying if thats a live option.

Assuming their credit rating is shot, does that mean they could afford to buy it?

Poor_old_gill · 30-08-2019 7:25pm

Dav010 wrote: »

Assuming their credit rating is shot, does that mean they could afford to buy it?

Sure they prob paid cash - easy enough to do if you aint paying a mortgage!

My mortgage is 24k a year - if I didnt pay that for 9 years then I'd be driving a brand new Bentley Continental

vriesmays · 02-09-2019 7:40pm

Some people's rent is 24k per year.

Poor_old_gill · 03-09-2019 1:55pm

vriesmays wrote: »

Some people's rent is 24k per year.

Ok but what's your point?

Wtf ? · 04-09-2019 11:20pm

Saw them tonight under a tarp in St Anne's Park and the kid's were acting up.
Won't someone think of the children ?

tommyc226 · 04-09-2019 11:31pm

That's pretty annoying..Surely the courts won't look too kindly on that?!

Poor_old_gill wrote: »

The Ryan's house is only around the corner from mine - the fact that they have a 191 jeep outside is just a ridiculously arrogant 2 fingers to us idiots who actually pay our mortgage.

I'd gladly keep the money and not bother paying if thats a live option.

nthclare · 05-09-2019 12:06am

vriesmays wrote: »

Some people's rent is 24k per year.

It's ok it pays for the yawww'z brats or prospective narcissists car for kullage...

Loike seriously, yuu cont think they'd sent their kid's to kullage wifout a coor...

Shouldn't we oullll pay for the privilege peeepols loife stoile....

Wout is wrung with you pesants...

All joke's aside, rent at 24k a year is ridiculous.

I think a lot of it's to do with people such as the so called fur coat no knickers brigade having to pay back debts to the banks which they renaged on during the recession and the only way is to hike up the rent and pay back a lot of interest.

Correct me if I'm wrong, it's the only conclusion I can come up with....

DubCount · 05-09-2019 7:27am

nthclare wrote: »

...

All joke's aside, rent at 24k a year is ridiculous.

I think a lot of it's to do with people such as the so called fur coat no knickers brigade having to pay back debts to the banks which they renaged on during the recession and the only way is to hike up the rent and pay back a lot of interest.

Correct me if I'm wrong, it's the only conclusion I can come up with....

If you want lower rents, you need more rental supply. To get more rental supply, you need to address landlord costs & risks:

- Address High Interest rates & Low LTV requirements from banks for Buy2Let

- Address planning & building regulations to make building new homes more affordable and quicker to build

- Provide a fast track eviction route for non-paying/anti-social tenants

- Fix HAP or have more social housing provided directly by govt

- Stop adding more laws and rules every 6 months

- Address high taxes on rental income for small investors

24k rents are a symptom of the problem. Nothing will change while more tenants seek accommodation at the same time the number of available rental properties are falling. This is a result of government policy, and not landlord greed.

Old diesel · 05-09-2019 7:59am

DubCount wrote: »

nthclare wrote: »

...

All joke's aside, rent at 24k a year is ridiculous.

I think a lot of it's to do with people such as the so called fur coat no knickers brigade having to pay back debts to the banks which they renaged on during the recession and the only way is to hike up the rent and pay back a lot of interest.

Correct me if I'm wrong, it's the only conclusion I can come up with....

If you want lower rents, you need more rental supply. To get more rental supply, you need to address landlord costs & risks:

- Address High Interest rates & Low LTV requirements from banks for Buy2Let

- Address planning & building regulations to make building new homes more affordable and quicker to build

- Provide a fast track eviction route for non-paying/anti-social tenants

- Fix HAP or have more social housing provided directly by govt

- Stop adding more laws and rules every 6 months

- Address high taxes on rental income for small investors

24k rents are a symptom of the problem. Nothing will change while more tenants seek accommodation at the same time the number of available rental properties are falling. This is a result of government policy, and not landlord greed.

The amount of cheap housing in the celtic Tiger era with the lower regulations was impressive......

Oh wait we never actually saw the cheap housing did we .......

I also note that pre new regs housing ISNT getting a discount in the market .

L1011 · 05-09-2019 8:02am

Old diesel wrote: »

I also note that pre new regs housing ISNT getting a discount in the market .

Second hand houses are certainly not getting the prices of new - but HTB is causing much if not all of that

Old diesel · 05-09-2019 8:42am

L1011 wrote: »

Old diesel wrote: »

I also note that pre new regs housing ISNT getting a discount in the market .

Second hand houses are certainly not getting the prices of new - but HTB is causing much if not all of that

My apologies I was thinking of the rental market.

The older stock was "cheaper to build" but it's still stupidly expensive to rent .

You are probably best looking at grants for meeting some of these new standards rather then simply ditching them.

In the same way electric cars get incentives because Govt wants more people driving electric cars for emissions.

A lot of the regulation in new homes is there because......

1) improved energy efficiency means less fossil fuel use and less emissions - in other words going A1 to A3 BER is part of climate change work.

2) people cutting corners in the past even with lower regs.

The A2 BER cost issues can be addressed with grants/supports .

Issues with BCAR and inspection costs could be addressed by industry putting forward alternative quality control measures that actually work.

Poor_old_gill · 15-09-2019 9:09am

https://www.herald.ie/news/ruling-on-ryan-and-flood-home-set-for-monday-38487228.html

Rumbles on

ted1 · 17-09-2019 2:19pm

Poor_old_gill wrote: »

https://www.herald.ie/news/ruling-on-ryan-and-flood-home-set-for-monday-38487228.html

Rumbles on

The way that article is writing is hilarious, did Pamela write it or was it her friend ?

the.red.baron · 18-09-2019 3:36pm

https://www.independent.ie/irish-news/courts/celebrity-couple-seek-to-keep-their-home-with-634000-writeoff-bid-38509163.html

This country is some dump, how long can they keep up this

any normal person would be in jail by now

tylercheribini · 18-09-2019 3:37pm

His legal fees to fight it this long have to be in at least the six figure category so not exactly "rent free" living either.

Claw Hammer · 18-09-2019 3:38pm

pyramuid man wrote: »

It wouldn't surprise me if they have been saving enough to buy another house in that nine years....

They would have had to disclose that in the personal insolvency application if that was the case which is of course most unlikely.

the.red.baron · 18-09-2019 4:06pm

they spent it all...

hard to afford life in Malahide on peanuts

which of course they wont have

no doubt they won't be on the homeless list after the insolvency

Poor_old_gill · 18-09-2019 6:44pm

the.red.baron wrote: »

they spent it all...

hard to afford life in Malahide on peanuts

which of course they wont have

no doubt they won't be on the homeless list after the insolvency

As I said previously - the 191 jeep outside the house just makes a farce of this whole thing.

They'd not have gotten credit for it so must have paid cash - sheer lunacy that this has been allowed to carry on

Immortal Starlight · 18-09-2019 7:20pm

In a case like this it's who you are that counts. If it was any of us there's no way we'd be in that house 9 years after we'd stopped paying for it. It's absolutely ridiculous.

Spanish Eyes · 18-09-2019 7:30pm

Guessing they will keep the house now. But who knows?

As a pp said, those who are honest and upfront with their issues, engage Stepchange or whatever it's called, and come to an agreement and show interraction with the process still might lose their home.

God help those who have not got the legal backup like this pair has. But if the law says it's ok, what can we say?

tylercheribini · 18-09-2019 7:38pm

Spanish Eyes wrote: »

Guessing they will keep the house now. But who knows?

As a pp said, those who are honest and upfront with their issues, engage Stepchange or whatever it's called, and come to an agreement and show interraction with the process still might lose their home.

God help those who have not got the legal backup like this pair has. But if the law says it's ok, what can we say?

Her being a barrister certainly doesnt hurt either, prob Godmother to the Judges first born.

Spanish Eyes · 18-09-2019 8:01pm

tylercheribini wrote: »

Her being a barrister certainly doesnt hurt either, prob Godmother to the Judges first born.

Never knew she was a legal eagle. Any evidence of this, just wondered why it hadn't been mentioned up to now. Well as far as I could see, but that's not much these days either!

tylercheribini · 18-09-2019 8:07pm

Spanish Eyes wrote: »

Never knew she was a legal eagle. Any evidence of this, just wondered why it hadn't been mentioned up to now. Well as far as I could see, but that's not much these days either!

Apologies, mixin het up with that Lowe one.

Poor_old_gill · 19-09-2019 8:59pm

Spanish Eyes wrote: »

Guessing they will keep the house now. But who knows?

As a pp said, those who are honest and upfront with their issues, engage Stepchange or whatever it's called, and come to an agreement and show interraction with the process still might lose their home.

God help those who have not got the legal backup like this pair has. But if the law says it's ok, what can we say?

Will they keep the house?
I'd imagine that the fund will push hard for this not to happen as otherwise they will have a raft of people doing the same

CiarraiAbu2 · 07-10-2019 4:43pm

https://www.irishtimes.com/news/crime-and-law/courts/high-court/pamela-flood-ronan-ryan-avoid-immediate-loss-of-home-after-court-appeal-1.4042748

punisher5112 · 07-10-2019 4:44pm

CiarraiAbu2 wrote: »

https://www.irishtimes.com/news/crime-and-law/courts/high-court/pamela-flood-ronan-ryan-avoid-immediate-loss-of-home-after-court-appeal-1.4042748

Wow...

Pay nothing and get to still keep everything..

07-10-2019 5:41pm

punisher5112 wrote: »

Wow...

Pay nothing and get to still keep everything..

The law is an ass, but I feel like a bigger one because I have been paying a mortgage for 20 years.

beauf · 07-10-2019 5:49pm

Dav010 wrote: »

The law is an ass, but I feel like a bigger one because I have been paying a mortgage for 20 years.

Likewise.

Should this not have ruined their credit rating in the meantime.

zom · 07-10-2019 5:53pm

Actually this is very interesting story in case of someone facing house eviction. This "Personal Insolvency Act" seems to be a gate to heaven for people who don't want to pay their mortgage anymore..

https://www.irishexaminer.com/breakingnews/ireland/former-miss-ireland-pamela-flood-and-ronan-ryan-win-reprieve-over-900k-dublin-home-955510.html

Instead, Mr Ryan brought proceedings under the Personal Insolvency Act and obtained a protective certificate from the Circuit Court in late June.

The certificate prevented Tanager from executing the possession order against the couple's home, pending the determination of the application of a personal insolvency arrangement.

Tanager, which acquired the loan Mr Ryan took out on the property, opposed the appeal and had argued that it was fundamentally unfair if the existence of the protective certificate was allowed derail its order for possession.

It argued that Mr Ryan should not be allowed to go behind the consent order made in March. Mr Ryan's conduct in seeking a protective certificate, it was argued, represented an abuse of process.

This was because Mr Ryan had failed to disclose the existence of the possession order when seeking the protective certificate.

Mr Ryan, represented by Keith Farry Bl instructed by solicitor Eugene Carley argued that there had been no material non-disclosure by him, and despite the existence of the possession order Mr Ryan met the eligibility criteria for a protective certificate.

In his ruling, Mr Justice Simons said that while it was unsatisfactory that the existence of the possession order was not disclosed to the Circuit Court the omission did not constitute a material non-disclosure.

The existence of the possession order, the judge, said would not have affected the outcome of the application for a protective certificate.

The possession order the Judge said is not a bar to the restructuring of secured debt by way of an insolvency arrangement.

The fact that Tanager has the benefit of an unexecuted order for possession does not preclude the possibility of the restructuring of debts as envisaged under personal insolvency laws.

Mr Ryan, the judge added, met the eligibility criteria for the protective certificate.

eagle eye · 07-10-2019 6:35pm

Courts will go crazy now, every barrister will.use this for their clients. You just have to follow the path they did and it's likely you win.

knucklehead6 · 08-10-2019 7:20am

eagle eye wrote: »

Courts will go crazy now, every barrister will.use this for their clients. You just have to follow the path they did and it's likely you win.

And it also means the banks will go crazier with mortgage interest rates, so those of us who aren't famous and don't have friends in the media etc will all lose

Thanks Pam and Ronan. You pair of leeches

terrydel · 08-10-2019 8:52am

eagle eye wrote: »

Courts will go crazy now, every barrister will.use this for their clients. You just have to follow the path they did and it's likely you win.

I'd love to see receipts for everything they've spent in the intervening years.
I bet the fancy restaurants, multiple holidays, material and lifestyle purchases have continued unabated.
As Christy Moore sang, 'He still drives a car and smokes his cigar
And still he takes his family on a cruise, he'll never lose'.

A certain section of Irish elite society live by those words.

Old diesel · 08-10-2019 9:01am

This ISNT permanent though right??????.

They are going for a personal insolvency arrangement.

At the end of the process this will need to be sorted again.

Portsalon · 08-10-2019 9:18am

Old diesel wrote: »

This ISNT permanent though right??????.

They are going for a personal insolvency arrangement.

At the end of the process this will need to be sorted again.

Yep - but the slime have successfully kicked the can down the road for another extended period. I wonder how much their lawyers have made out of this long running farce and who will ultimately pay the big legal bills.

One thing for sure is that it won't be Ronan Squatter.

Markcheese · 08-10-2019 9:29am

Is it a case of get the debt as high as you can, then offer a low settlement with family money, and the judge will approve it because its more than the creditors would get in bankruptcy?

Cuddlesworth · 08-10-2019 9:39am

Old diesel wrote: »

This ISNT permanent though right??????.

They are going for a personal insolvency arrangement.

At the end of the process this will need to be sorted again.

I think, at the end the bank would have to go through a eviction and repossession process again.

Portsalon · 08-10-2019 9:59am

terrydel wrote: »

You do realise that the final word there is considered offensive and racist?

A warm welcome back from the naughty step, Terence old bean; I trust that you've cleaned up your act during your furlough?

terrydel · 08-10-2019 10:09am

Portsalon wrote: »

A warm welcome back from the naughty step, Terence old bean; I trust that you've cleaned up your act during your furlough?

Still using racist, derogatory language and getting away with I see.

jester77 · 08-10-2019 10:30am

So, moral of the story, don't pay your mortgage and use that money instead for a good solicitor/barrister.

The_Conductor · 08-10-2019 10:31am

Guys- cop the hell on.
Keep on topic- using reasonable language and debating the topic at hand- or there will be trouble.
No second chances.

terrydel · 08-10-2019 10:32am

The_Conductor wrote: »

Guys- cop the hell on.
Keep on topic- using reasonable language and debating the topic at hand- or there will be trouble.
No second chances.

You mean guy - there is only one person here using a racist term. And its still there.

The_Conductor · 08-10-2019 10:37am

Warning- keep ontopic.

rivegauche · 08-10-2019 10:40am

As nobody up to now seems to be loosing their main home in the insolvency agreements or being forced to downsize there is huge moral hazard built in to this and Banks must bake it in to the interest rates they offer to everyone for mortgages.

Buy house, don't pay mortgage, live rent-free for 9 years. MOD WARNING POST #268

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