Central Bank confirms vulture fund legal loophole means thousands can’t turn to ombudsman for help
Deputy Governor of the Central Bank Derville Rowland says the issue needs to be fixed.
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Deputy Governor of the Central Bank Derville Rowland says the issue needs to be fixed.
Investment funds are on track to own more student accommodation than universities across the country in the coming years.
Plans are being worked on to rescue borrowers stuck with vulture funds charing up to 10% mortgage interest.
The minister said the Sinn Fein Bill to give mortgage holders the power to block the sale of their loans to vulture funds is unconstitutional.
Unregulated loan owners hold 17% of all mortgages in arrears over 720 days.
Sinn Féin’s finance spokesperson Pearse Doherty said a full committee session should be dedicated to the loan book sale.