BoI wills ‘may breach human rights’

Bank of Ireland may be breaching the European Convention on Human Rights by insisting that borrowers make wills before they can obtain equity-release loans, according to a legal expert.

11th February, 2006

Bank of Ireland may be breaching the European Convention on Human Rights by insisting that borrowers make wills before they can obtain equity-release loans, according to a legal expert.

Equity-release schemes allow people to raise money for their retirement or other expenses by unlocking the value in their home. Speaking at a Dublin Solicitors Bar Association seminar on equity-release schemes, Patricia Rickard-Clarke, a commissioner with the Law Reform Commission, said: ‘‘Perhaps Bank of Ireland should...

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