By Steve Conley, Academy of Life Planning
A landmark case in Dublin this week has pulled back the curtain on a truth that applies equally here in the UK — most homeowners no longer have a mortgage with a bank at all.
In Ireland, Judge Geoffrey Shannon of the Circuit Civil Court refused to grant summary possession to Pepper Finance Corporation, which claimed ownership of a €1.15 million mortgage originally issued by the Bank of Scotland. The borrowers, Philip and Venetia Corballis, argued that Pepper lacked legal title to enforce the debt because the mortgage had been sold multiple times through opaque cross-border transfers — and the judge agreed the matter required “closer scrutiny”.
This was no mere procedural delay. It was a recognition that when banks sell or securitise mortgages to third parties, questions arise about who really owns the debt, whether borrowers’ data and rights were respected, and whether contracts remain valid after being traded like commodities.
The Irish court identified three critical issues — all of which mirror problems festering here in the UK:
1. Chain of Title
Judge Shannon found “material questions” over the completeness of the chain of title. In plain English, the paperwork proving who actually owns the mortgage was unclear.
In the UK, thousands of mortgages have also been transferred into Special Purpose Vehicles (SPVs) — offshore shell entities that fund the loans through investors. Yet borrowers are never told. The Land Registry, FCA, and courts often take the lender’s word for it, without inspecting the full documentation trail.
2. Data Protection and Transparency
The Irish defendants alleged that their personal data had been traded unlawfully and without consent, even across international stock exchanges.
The same thing happens in the UK. Borrowers’ financial data — income, family details, credit history — is routinely packaged into securitisation deals. These transfers are rarely disclosed, potentially breaching UK Data Protection Law, GDPR, and Consumer Credit transparency requirements.
3. Fairness of Contract
The court also questioned whether the contract itself was fair and lawful under constitutional and European rights.
UK borrowers are in a similar position: once a loan is sold, they often find that the new “owner” (a fund or trust) is inflexible, unregulated, and unreachable. They may face repossession proceedings from entities that never lent them a penny — but claim title through paperwork they refuse to fully disclose.
Why This Matters for the UK
The Irish judgment should be a wake-up call. It acknowledges what many UK borrowers have long suspected — that the true owner of their mortgage is not the name on the statement, and that enforcement may be occurring without lawful authority.
In the UK, possession orders are granted every day based on assumed ownership, without the same judicial scrutiny that Judge Shannon has now demanded in Ireland.
If a bank sells your mortgage, you have a right to know who now owns it, what data was shared, and under what legal authority.
This case sets a powerful precedent for Citizen Investigators and Get SAFE campaigners across the UK. It shows that when courts take time to examine the evidence — rather than rubber-stamping lender claims — the outcome can uphold justice, transparency, and due process.
What We Can Learn
At the Academy of Life Planning, we’ve long argued that financial institutions must be held to the same standards of truth, fairness, and accountability as the consumers they serve.
The Ireland judgment reaffirms a basic principle: no one should lose their home without clear proof of lawful ownership.
UK citizens deserve the same protection. It’s time for British courts to demand full disclosure of mortgage sale documentation, proper chain-of-title verification, and compliance with data protection law.
The Bigger Picture
Behind this lies a deeper moral issue.
Mortgages — the cornerstone of family life — have been transformed into tradeable assets in a global financial casino.
People’s homes are being used as chips on a banker’s table, and when the game turns sour, the same players claim the right to throw families out onto the street.
The Irish court has just called “time out.”
Now the UK must do the same.
Join the Movement
At the Academy of Life Planning and Get SAFE, we’re helping citizens uncover the truth behind their mortgage ownership, challenge unlawful repossessions, and push for systemic reform.
If you believe in transparency, fairness, and structural trustworthiness — join us.
Together, we can ensure that justice, not opacity, governs the homes we live in.
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steve.conley@aolp.co.uk | +44 (0)7850 102070
Academy of Life Planning 