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High Court upholds the Circuit Court's decision refusing the borrowers' motion to strike out the mortgage lender's pleadings on the grounds of alleged non-compliance with the Central Bank of Ireland's Code of Conduct on Mortgage Arrears (CCMA), on the grounds that the lender, having acquired the loan from a predecessor, was entitled to rely on previous notifications issued to the borrowers that they were deemed "not cooperating", and the protections of the Mortgage Arrears Resolution Process (MARP) no longer applied; and consequently, the lender's initiation of repossession proceedings was deemed compliant with the CCMA.
Mortgage arrears - Code of Conduct on Mortgage Arrears (CCMA) - Mortgage Arrears Resolution Process (MARP) - repossession proceedings - borrower non-cooperation - loan transfer - lender compliance - Central Bank of Ireland - borrower protections - legal proceedings moratorium - debt transfer rights and obligations - financial services ombudsman - personal insolvency practitioner.
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