There are many purchasers of French leaseback properties that have defaulted on their French mortgage due to the absence of rent that was promised in the original lease contract when they agreed to purchase the property. Many of these have had the property re-possessed by the French bank and have had a judgement made against them. Some are being pursued by the French bank, or by the company that the bank have sold the mortgage on to. There are others who are continuing to pay these mortgages, but are experiencing financial difficulty doing so and may be forced into a default.
Carley and Associates Solicitors are an independent law firm with Offices in Cork and Dublin. Eugene Carley is the Principal of the firm but he also works for New Beginning. He opened the Law firm to defend New Beginning customers in Court nearly 3 years ago.
Eugene has broad experience in Banking as well as a team of Barristers who specialise in defending people against Banks. Barrister Gary Fitzgerald is also excellent and very well versed in European law, and especially consumer law.
We hope that all owners who have experienced problems with their purchase of a French leaseback property have submitted a complaint to their national consumer protection agency. And although the European Commission has called for an investigation and co-operation between the consumer agencies of affected member states, there are many who have immediate difficulties.
If you are experiencing difficulty and you are looking for Irish legal advice you would be well advised to contact Eugene. He is up to speed on the issues being experienced. You can email him at eugene @ carleysolicitors.com
See Jim Stafford’s piece in the Irish Independent on French mortgage default.
See more about French banks’ role in French leaseback property issues