FitzPatrick registered loan two years after purchase

FORMER CHAIRMAN of Anglo Irish Bank Seán FitzPatrick and his wife Catriona registered a mortgage against an apartment in Dublin two years after they got ownership of it.

Files in the Land Registry Office show that Mr and Mrs FitzPatrick became owners of an apartment in Smithfield Market in December 2006.

Ownership of the apartment, which is on the seventh, eight and ninth floors of the building according to the registry documents, was transferred in December 2006 by Fusano Properties.

Fusano was the developer of the complex and is part-owned by businessman Paddy Kelly. Fusano was funded by Anglo Irish Bank.

Mr Kelly’s loans are now understood to belong to the National Asset Management Agency.

In May 2008, a mortgage against the property was registered by Haven Mortgages. In his statement of affairs filed as part of his bankruptcy proceedings, Mr FitzPatrick said he was getting an annual income of €16,800 from the apartment.

The apartment was one of three properties he said he was renting but which, when mortgage payments and other costs were taken into account, were producing a monthly loss of €3,505.

Another of the properties was 25 Camaderry Road, Bray, Co Wicklow, from which Mr FitzPatrick gets €5,100 per annum in rent.

A lien against this property was registered in March 2009 in favour of Ulster Bank.

The final property being rented is at Killiney Court, Station Road, Killiney, Co Dublin, from which he gets rent of €30,000 per annum.