Question about mortgage and repurposing | Legal aid centre

Questioner

Ls, My mother owns a simple company house with a value of approximately 60,000 euros. This is the total value of the house and the land together. She has been admitted to hospital for several years due to dementia and we are now in charge of her care. The bank has given my mother a mortgage in the past, the value of which is now 155,000 euros and which may still increase to 200,000 euros. In the documents this was called an eating construction. The mortgage is however much higher than the value of the house. The bank apparently misjudged the value of the house at the time or based it on a residential destination. In recent years we have had the zoning plan changed, which has made the value of the house much higher and also more than the mortgage. To achieve this, we had to make a lot of costs and a lot of hours, partly due to all kinds of problems we encountered during the repurposing process. Our costs have risen to almost 50,000 euros. However, the value of the home is more than the mortgage and the costs incurred together. However, we wonder to what extent we can persuade the bank to contribute to the costs. After all, the bank is mainly the winning party. If we had done nothing, the bank would have had a loss of at least 100,000 euros when selling the house (as a company house), because the remaining debt would absolutely not be repayable. Since we have now taken action to repurpose (without prior guarantees...), we have saved the bank from a significant loss. We also wonder to what extent we can force the bank to take action because the bank has, after all, provided a mortgage that far exceeded the value of the home. Please advise.

Lawyer

Not the bank but the heirs had suffered a loss. What is it that you want: to remortgage the house?