Killiney Couple Own 21 Properties (Plus Tent)

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In 1998, a mortgage with Irish Nationwide was registered by the couple in respect of an apartment at Burleigh Court, Burlington Road, Dublin 4; an apartment at Abbeyfield, Milltown Road, Dublin; an apartment at Simmonscourt Castle, Ballsbridge, Dublin 4; an apartment at Wynnfield Park, Charleville Road, Rathmines, Dublin 6; an apartment at Capel Court, Capel Street, Dublin 1; an apartment at The Waterside, Charlotte Quay, Dublin 4, and an apartment at Deanscourt, Christchurch Square, Dublin 2.

A number of separate mortgages with Irish Nationwide were registered during 1998 and 1999 in relation to 34 Eglinton Road, Donnybrook, Dublin 4 (the couple’s address before the Killiney address). These were satisfied in August 2011.

 

And there’s more.

Evicted Pair Own Large Property Portfolio (Colm Keena, Irish Times)

81 thoughts on “Killiney Couple Own 21 Properties (Plus Tent)

  1. ZipAhDeeDooDah

    Ah, God love them.

    They obviously got confused with all the paperwork, which is why they didn’t bother their holes paying the mortgage on the Killiney property…

    1. Crammer

      Did they even live in the Killiney gaff or just show up there on eviction day for the ‘protest-craic’??

    1. inscrutable

      This is absolutely hilarious. ODS have proven themselves, once again, to be complete clowns.

      If one good thing comes of this, it throws the Potemkin intelligence of the crusties into sharp relief.

        1. Sid

          +1. Some pack of wasters. They’re as bad as the Shinners jumping to support a “populist cause”. 21 properties, god love ‘em. And god knows they were probably charging criminal rates for rent on their other properties.

  2. EvilRobotDanny

    Maybe someone can help out with the math here, but if they’re getting rental income from even half of those properties why the hell cant they pay the mortgage on their own place?!? Or did someone tell them it was a ‘buy 21 get one free’ deal?

    1. Dave

      Because they most likely have debts on all those places to pay too. Leverage makes everyone look like superstars for a while.

      1. Corazon

        Most likely they are under water on their entire property portfolio. That is , total rental income is less than total mortgage and other expenses. Don’t think they are alone, expect a lot more of this over the next 12 months.

  3. Boba Fettucine

    Hope they enjoy sleeping in their tent. It’s better than most of the places I had to live in the 90s/00s due to being priced out of the market by their greedy, venal ilk.

    1. Dee

      +1000
      Some of us are still forced to live in expensive crappy rented accommodation with no hope of ever getting a mortgage.

      Its very hard to feel sorry for them when you are scrubbing the damp off your bathroom ceiling in your overpriced crappy place that you can’t even call your own.

  4. Woesinger

    Christ, it sounds like they were trying to Occupy Dublin – with their property portfolio.

  5. janet

    My heart bleeds for them……I really had no pity for her as soon as she compared themselves to the famine, unless she meant that compared to the huge landowners at this time. Perhaps instead of buying a load of property & upgrading to a massive house they should have thought about getting a smaller one & saving the money for their retirement not getting rich off poor suckers who were renting off her, – as I know in 2006, rent in wynnefield park for a 1 bed was over €1000 & for a 2 bed in Beggars bush was €1400.

  6. Kelvin McSprockett

    Yep, 2 bedroom “mews” kip in Blackrock in 2002 was €1500 per month. Lost my job the day after I paid rent, landlord refused to refund.

    1. Rumpleforeskin

      Most people weren’t supporting them so much as lamenting the “guilty until proven innocent” attitude taken by so many commenters. Except for the ODS mongs.

      1. Mike

        Exactly – I am still disturbed by the way people jumped at them before anyone knew they had other properties. When I watched the video I found it upsetting. They obviously have a lot of places to go but when the video first came out, no one knew that. My sympathy is more or less gone now but I am proud of the fact that my initial reaction was that of sympathy and not delight in the downfall of a couple from the rich side of town.

        Someone posted the GB Shaw quote “Put an Irishman on the spit and you can always get another Irishman to turn him.” and I thought it was appropriate.

          1. Mike

            Go back to the original video, people were already getting digs in because the address was Killiney, no one knew about the other properties at that point.

        1. cluster

          In the intial comments it was pointed out that they were landlords and owned several properties.

          One person even quoted from a judgement made against them in the small claims court.

          Apart from which, even if there was there only house, if there is a massive outstanding mortgage they should downsize and then talk about making a deal.

    2. Amelie

      Get down of your high horse there Sally.

      I was a supporter after seeing the video on youtube and on the surface it seemed that they deserved the support. Only until I read into it myself yesterday did I realise that these people don’t deserve support or any of the media attention.

      Am I not allowed to change my mind?

        1. robocan

          +1

          He’s allowed, under contract, to eat anything perishable he finds in the house after an eviction

        2. Mike

          He was too fat to stand throughout the 8 minute video. He had to lean on the plant for support.

  7. Jockstrap

    Typical new money. Everything they have is borrowed against.

    Vanity before sanity. The downfall of nouveau everywhere.

      1. MrsS

        Having been in “polite” company during the naughties people would wonder why Mr. S and I “only” had one property which did not really count as we live in it…. at that point I would cease to be polite…. People (even those on normal salaries) got greedy and went mad!

  8. @FrillyKeane

    I smelt this coming
    Tax stuff is obviously been kept for the Sundays
    (and also why I didn’t comment on any of the videos)

    Let’s have Pat Kenny interview them now

    1. woesinger

      Pat does have a lot of experience with elderly gentlemen and property issues in that part of the world.

    1. @FrillyKeane

      Indeed he does. ‘probably why he rang in sick yesterday.

      Btw is there any query already out there asking why they didn’t rent out this gaff.

  9. Leaning to the centre

    Bring it on. Give us some more deluded entitled nouveau riche in tents (when they could be sleeping in anyone of 18 properties) spewing hubris and indignation. When is the next eviction scheduled for?

    Time to realise who the worthy cases are and who isn’t.
    Time to stop blaming extinct banks for everything.
    Sell off these property empires at market rates and put the proceeds towards hospitals and schools and services

  10. Figlen

    Well I must say I reserved judgement on this whole affair even after reading all of the comments on the previous posts relating to this. I thought the eviction was a grim, sad scene. It’s very unpleasant watching an older man being handled the way he was (although it didn’t look like an assault from what I could see).

    To learn then that they are part of the cabal of shysters who helped f&*k up this country – by believing themselves to be part of some entitled class of elite landowners, who attempt to make piles of cash from the sorry state of our rental market – really grates (despite Nationwide being as fecking useless for actually lending – presumably with using other properties as guarantees). The attempts to generate sympathy by invoke the ghosts of the famine now appear sickening.

    Sympathy for them – gone.

  11. True Kilcockian

    The Sheriff will be paid €50,000 for his days work.
    Nice work if you can get it (but how did he get it?).

    I also note that the lads in the video aren’t wearing any kind of identity badges. How do they get selected?
    The only qualification that I am aware of is dishonesty.

    A senior official at the office of the Dublin City Sheriff was one of the top tax defaulters in the list published in Iris Oifigiúil for Q1 2011.
    Thomas Gray held the title of Court Messenger and had the power to seize goods from debtors against whom court orders had been obtained. Gray submitted his resignation to the city sheriff just hours before Iris Oifigiúil was published.

    €800,000 Thomas Gray stole from the Irish people.
    By all accounts he is a scumbag to deal with.

    Who’ll shoot the sheriff?

    1. fosull

      I would really, really love to see some sort of evidence that the Sheriff will be paid €50,000 for a day’s work.

      Without such evidence, I’m calling bo**ox on your statement.

      1. True Kilcockian

        Sheriffs sell the goods they seize, then pay the creditors. In an arrangement known as “poundage”, they are paid a percentage of funds raised. Poundage is calculated at 5% on the first €5,500 and 2.5% on any additional balance.

        After sheriffs deduct fees, expenses and poundage, the balance is paid over to the creditor.

        Read more: http://www.irishexaminer.com/archives/2012/0410/ireland/sheriffs-seize-over-100m-in-two-years-from-those-in-debt-190011.html#ixzz1sZYiIYq5

        1. fosull

          Still calling bol*ox, I’m afraid.

          1. Your figure is based on an assumtion that the property will sell for €2m, which is brave, in the current climate.

          2. You assume there will be abosultely no expenses involved in the sale of a €2m property. Even if the estate agent charged 1% of the selling price and they got the €2m, that’s €20,000, so now we are at €30,000, before all the myriad of expenses are added into the equation.

          3. This sale will not happen this morning, so to say it’s for a day’s work is rubbish.

          4. The Sheriff is only doing this job because the homeowner in question refused to accept their responsibilities for crazy borrowings and forced the issue to this extent.

          1. True Kilcockian

            1. Your figure is based on an assumtion that the property will sell for €2m, which is brave, in the current climate.
            5 bedroom house in Killiney? Well we shall see what we shall see.

            2. You assume there will be abosultely no expenses involved in the sale of a €2m property. Even if the estate agent charged 1% of the selling price and they got the €2m, that’s €20,000, so now we are at €30,000, before all the myriad of expenses are added into the equation.

            Do try and keep up dear.
            The Sheriff gets his expenses before he passes on the balance to the creditor. Estate agents fee is an expense.

            3. This sale will not happen this morning, so to say it’s for a day’s work is rubbish.
            Basic intelligence and reading comprehension fail.
            All the Sheriff has to do is engage an agent. All costs incurred by the agent will be paid by the Sheriff after poundage and before he passes on the balance to IBRC.

            4. The Sheriff is only doing this job because the homeowner in question refused to accept their responsibilities for crazy borrowings and forced the issue to this extent.

            That refutes nothing.
            Who cares? It is a scumbags job and has in the past been done by scumbags who attempted to steal nearly a million euro from the Irish people.

          2. fosull

            I’m not too keen on engaging in a civilised converstaion with someone who insults me rather than argue the points like a grown-up, but in relation to your repeated statement about the Sheriff not having to worry about expenses, I will refer you to the very words you typed in your initial post:

            After sheriffs deduct fees, expenses and poundage, the balance is paid over to the creditor.

            This means the Sheriff DOES have to cover the expenses, making your rebuttal invalid.

          3. True Kilcockian

            ’m not too keen on engaging in a civilised converstaion with someone who insults me rather than argue the points like a grown-up.
            You began the exchange by ‘calling bollox’. You established the tone and now complain about it.

            After sheriffs deduct fees, expenses and poundage, the balance is paid over to the creditor.

            The property sells for €2 million (let’s say).
            The sheriff has ‘court fees’ of say €1550
            2 million less 1550
            1 998 450

            The estate agent charges €20,000
            1,998,450 less 20,000
            1,978,450

            The Sheriff Charges Poundage
            2.5% of 2 Million
            50,000
            This leaves
            1,928,450 to be handed over to IBRC as ‘the balance paid over to the Creditor’.

  12. Jonjo

    “A number of separate mortgages with Irish Nationwide were registered during 1998 and 1999 in relation to 34 Eglinton Road, Donnybrook, Dublin 4 (the couple’s address before the Killiney address). These were satisfied in August 2011.”

    How did they get a number of mortgages for one property?

  13. Samantha

    Ok let’s say all their properties were mortgaged to the hilt – which listening to Colm Keena on Pat Kenny was quite possibly the case – there was no point selling anything as the proceeds would instantly disappear down the black hole. So maybe they have nothing. And this was their home for the past eight years. I can imagine the pressure they were under and the instinct to stay put come hell or hight water.

    1. cluster

      This softness on the offender, on the cute hoor, on the people with no civic responsibility is exactly why ‘we are where we are’.

      It is why the fairly hard-working, honest majority end up in a state where corruption and strokes are endemic.

  14. C Sharp

    There are those far more deserving of our sympathy, in far more dire straits than the Kellys.

    They are only human though. They didn’t set out on a nefarious scheme to bankrupt the country, they went along with what was THE pre-eminent M.O. of the wealthy during the boom years. The system is what was at fault – it’s not too much more complicated than that.

    People being people took what they could from it (whatever their background).

    The leadership, the decision makers in our country let this happen too eager to follow, unquestioning, an international trend, an economic ideology.

    At 38 I know loads of people in massive negative equity – they were at the stage in their lives when they wanted a home for their new families.

    A small few even went and speculated on a second property “investment” on the back of a letter from the bank saying “here’s more money, buy another house”.

    In most cases they could afford it at the time, they didn’t believe they would find themselves in a position where they would see such massive reductions in their income.

    Do I blame them for the crash? No.

    I rent, but am not about to get into any mortgage “war” with people who don’t.

    I have no issue with those who are out of their depth getting mortgage relief either, even with taxpayers money, as painful and galling as that is I would prefer this to seeing people in the trauma so many of our citizens are in.

    I am not about to draw an arbitrary line (based on % or otherwise) beyond which it was “their fault”.

    At least this will start them spending again, which benefits the economy and ultimately all of us. Compare this to paying tax to pay off bank speculators who are most certainly going to reinvest their money here.

  15. earthwormjimbo

    I’m not sure why people seem so “shocked” by the bailiffs actions. They must be watching a different video to the one I saw, because in that one Mr. Kelly lunges at them before any hands are laid on him. Sure, I imagine any house owner would do the same, but unlike most other families who’ve been evicted or are facing eviction, or the hundreds of genuinely homeless people out there (of which this story makes a complete mockery), Mr.Kelly doesn’t seem to have run out of options. You would imagine that a man with 18 houses could have found some way to avoid a forceful eviction he’d been expecting for 2 years. Naturally, if several of these properties are also mortgaged he may really have few options left, which is more bad news for taxpayers. And yes, the banks are just as much to blame for giving an elderly couple a 3million euro mortgage, there’s no doubt about that. But it seems to me likely, based on his portfolio, that Mr.Kelly could have avoided this whole episode if he could stomach living within his means like most of us have to. This tirade is nothing more than Mr.Kelly’s final frustrated attempt to avoid this inevitable conclusion. I have little pity for this man, I wish I could, but it is because of his irresponsibility as much as the banks that people like me and many others truly have few options left for a decent future in Ireland.

      1. fosull

        The site won’t allow me reply to your comment above, so apologies for the wrong location for this:

        I “called bol*ox” on your argument, not you personally – huge difference.

        You are plucking figures from the air and calculating them one way – I am doing likewise and both of us are getting different results.

        I don’t agree with your logic and you don’t agree with mine. I’m not too keen on a back-and-forth on the numbers, so I think it’s best that we both continue to hold to our understanding of the situation.

        fosull

        1. woesinger

          It’s a weird thing the comment engine does. If you hit the last available reply button, it’ll add the comment to the end of the thread.

        2. True Kilcockian

          Don’t worry about it fossull. For your own sake try to be even more compassionate than usual to someone today!

          1. fosull

            What???

            I query your logic and you quenstion my compassion???

            Give me a break – you’re the one advocating he shoot the Sheriff because he’s never get a jail sentence at his age!

            I give up.

      2. John

        He should then move on to Seanie Fitz’s place in nearby Greystones and ditto.
        Save the taxpayer a fortune in lawyers fees.
        Seanie will most likely be acquitted when (if!) he is prosecuted.

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