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Our slogan is “Mortgages Made Easier” and this is our ultimate aim, to make the daunting mortgage process as easy as possible.We specialise in helping people who are first time buyers, people trading up, people wishing to purchase a property as an investment, people who wish to consolidate loans and those who wish to release equity from their home.These include: as part of the judgment considered the equitable doctrine of consolidation. (the Bank) had advanced a number of loans to the appellants which were secured by mortgages containing terms which effectively cross secured the loans advanced by the Bank.The loans advanced are referred to in the following paragraphs as the First Loan and the Second Loan respectively.
We have a large number of clients that have availed of our debt consolidation services.
Justice Whelan concluded that it cannot be contended that the provisions of the doctrine are to be read into a security instrument in each case. Justice Whelan referred to the fact that the Bank at no point sought to exercise the doctrine of consolidation and that the Bank were relying solely on their contractual rights.
She further clarified that there is no authority for the proposition that a lender can be compelled to exercise this right by an attempt of a borrower to unilaterally invoke the remedy.
This decision reasserts the position that the right of consolidation belongs to a mortgagee and not to the mortgagor.
It confirms that a mortgagor cannot compel a mortgagee to invoke or exercise consolidation.
This can be done by calling into our offices in Sligo or initially over the phone if that is more suitable.