A New Beginning in Ireland-The Saviour of Hard Pressed Home Owners? | BusinessAndLegal.ie

New Beginning is made up of barristers, solicitors, an economist and some concerned citizens who wish to test the boundaries of the duty of care owed by lending institutions to it’s borrowers.

Essentially New Beginning will take on test cases where people are in danger of losing their houses because they can not make the mortgage payments and can not afford legal representation.

There is no doubt that banks and finance houses do owe a duty of care to it’s customers but the level or extent of this duty of care has never been clearly defined. New Beginning estimate that there are currently 36,000 mortgages in arrears by 3 months or more and 17,000 simply can not meet their repayments.

via businessandlegal.ie