A volunteer group of 20 barristers and economists set up an organisation to help those threatened with repossession.
New Beginning is a advocacy group that promises to challenge a decade of excessive lending by banks on behalf of struggling mortgage holders.
They have assembled a panel of 20 barristers who have agreed to "represent and defend" mortgage holders who are in trouble for free. In tandem, they plan to mount a separate test case to establish whether financial institutions had a duty of care to borrowers that they breached with excessive lending.
A volunteer group of 20 barristers and economists set up an organisation to help those threatened with repossession.
New Beginning is a advocacy group that promises to challenge a decade of excessive lending by banks on behalf of struggling mortgage holders.
They have assembled a panel of 20 barristers who have agreed to "represent and defend" mortgage holders who are in trouble for free. In tandem, they plan to mount a separate test case to establish whether financial institutions had a duty of care to borrowers that they breached with excessive lending.
Why are they doing it? Quite simply, according to Mr Hall, it is because he knows too many people in financial difficulties with their mortgages and has been moved by the plight of others in countless newspaper reports. Mr Maguire and Mr Martin, both friends of his and lawyers who have witnessed financial hardship in the frontline of the courts, shared his concerns.
They each feel that the time has come to test the bank's responsibilities to borrowers.
"The Department of Social Welfare is paying 17,000 monthly home supplement payments; 36,000 home owners have not made mortgage repayments in more than three months. It doesn't take a genius to figure out that this is a mammoth problem. But kicking this tin can down the street doesn't work anymore," said Mr Hall.
Four leading Irish economists have also rowed in to help. "Stephen Kinsella and Brian Lucey have agreed to assist us with drafting solutions by gathering together a significant number of economists to meet on how to deal with this topic," said Mr Hall. Ronan Lyons has also offered advice.
More pressing for those homeowners who are blindly fighting repossession cases in court without a lawyer in sight, is the offer of free legal representation.
"We are asking barristers to represent for free those who have been brought to court to have their homes repossessed. We are not giving any guarantees that we are going to save their homes. We must be honest and say this will be an uphill battle, but we will ensure one thing: a battle it will be," said Mr Hall.
"If someone is going to come and try and take someone's home, it's not going to be easy. It's not appropriate to have someone who cannot afford legal representation to turn up into a quagmire of a legal system, in an intimidating court and to stand before a judge and try and defend themselves."
Weren't those who borrowed money up to the hilt as much to blame as the banks? This isn't about the borrower reneging on his responsibility, according to Mr Hall: it's about the banks sharing the pain.
"Our belief is that the banks had a duty of care to the borrower and they failed in their duty of care to the borrower. We are not saying that borrowers are without blame: we are asking banks to take their share of the blame," he said.
Mr Hall said he had been “inundated” with enquiries after the initial flurry of publicity – with more than 200 emails and phone calls within 24 hours of launch.
“This is very serious. People are absolutely at their wits end. We’re not promising we can stop the repossession but we can promise that we will fight for them.
“These people are already distressed and facing an intimidating court case is the last thing people need,” said Mr Hall.
The service started in the Dublin courts, but New Beginning is hoping to roll the service out nationwide.
November 1, 2010: RTE Nine News: 20 Barristers offer free legal aid for repossession
