The couple brought High Court proceedings seeking to have the decision overturned and an investigation carried out.
They planned to get additional credit in Portugal to buy the apartments but failed to do so and they had used the IIB loan to pay towards the deposits on the properties.They continued to make repayments on the IIB loan but, in 2011, they got into financial difficulties after Ms Baynes became seriously ill.
It was clear at the time the couple would be in their 70s and some years past retirement age by the time the 13-year mortgage had to be repaid, counsel said.
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