Loan for ‘Dis­ney cas­tle’ costs cou­ple their home

The Courier-Mail - - NEWS -

A GOLD Coast cou­ple have been kicked out of their house for fail­ing to re­pay a bank loan to build an elab­o­rate magic king­dom in their back­yard.

Jonathan and Le­keeta Leah Martin have lost a bat­tle with the Com­mon­wealth Bank to save their Pa­cific Pines home after tak­ing out a $63,000 loan for a “replica Dis­ney cas­tle in their back­yard”.

The Martins blamed the bank for “ir­re­spon­si­ble lend­ing”. How­ever, the Bris­bane Dis­trict Court last month ruled “credit cards weren’t dis­closed” and the bank had given plenty of warn­ing about re­pos­ses­sion. It ruled the home could be re­pos­sessed.

The pair orig­i­nally pur­chased their Hemes Close home for $414,000 in May 2006. The court was told the cou­ple had taken out a $150,000 loan in June 2013. Court doc­u­ments said that loan was paid down to $86,942 when the Martins ap­plied for a top-up of $63,000 “to build a replica Dis­ney cas­tle in their back­yard.” That money was with­drawn be­tween De­cem­ber 2014 and June 2015, but the bank was paid noth­ing after Sep­tem­ber 24, 2015.

Judge Deb­o­rah Richards dis­missed an ap­pli­ca­tion to have the re­pos­ses­sion or­der re­scinded. The cou­ple were or­dered to pay the bank’s costs.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.