Couple lose home after failing to honour numerous pledges to repay lender

A CONTRACTOR and his wife lost the battle to save their family home after breaking numerous promises to repay their mounting mortgage bills with their lender.

The couple had pledged to reduce their growing mortgage debt by paying cheques, with laser card payments and with the income from a new building business. But the High Court heard yesterday how lender Stepstone Mortgages received little or no payments despite the married couple’s promises and the amount owed now far exceeded the original loan.

The loan for their four-bedroom house in Kilmallock, Co Limerick, had grown with interest to over €511,000 on the original mortgage of €390,000 taken out in mid 2008, the court heard.