Struggling mortgage-holders could benefit from new debt deals, says group

A better deal could soon be on the horizon for struggling mortgage-holders, it has been claimed.

New Beginning says international funds are beginning to buy up the banks' debt portfolios - and those in arrears should now find it easier to agree a deal.

Ross Maguire of New Beginning said that funds have a straightforward approach.

Struggling mortgage-holders could benefit from new debt deals, says group

"When they look at their books, there is very little profit in trying to force people through the courts, because that's going to take years, and during that time, people are often not paying," he said.

"So they know from experience in the UK or in the US is what works best is to work with people to turn non-performing loans into performing loans."

More on this topic

Thousands will lose their homes, warns campaigner David Hall as Ulster Bank announces mortgages saleThousands will lose their homes, warns campaigner David Hall as Ulster Bank announces mortgages sale

Central Bank data shows slight fall in mortgage arrearsCentral Bank data shows slight fall in mortgage arrears

No Consent, No Sale bill 'should be no-brainer'No Consent, No Sale bill 'should be no-brainer'

SF 'No Consent, No Sale' bill could have 'severe unintended consequences', says Central BankSF 'No Consent, No Sale' bill could have 'severe unintended consequences', says Central Bank

More in this Section

Murder accused 'wouldn’t be in current situation' had she not been abused as child, court hearsMurder accused 'wouldn’t be in current situation' had she not been abused as child, court hears

Boy, 17, missing in DublinBoy, 17, missing in Dublin

'Those cows would have been coming to me” - Cork farmer claiming €1.6m in damages"Those cows would have been coming to me” - Cork farmer claiming €1.6m in damages

'We'd prefer to be working' - Ambulance staff begin second day of strike over union recognition'We'd prefer to be working' - Ambulance staff begin second day of strike over union recognition


Lifestyle

Celebrate the anniversary by finding lift off without even leaving the earth, at these stateside visitor centres and museums, says Sarah Marshall.America’s top space-age attractions to celebrate 50 years since the moon landing

For bookworms and classic movie buffs, the notion of a London park will forever conjure up images of Mary Poppins with the Banks children in tow.Inside/ Out: Park life is looking up in London by Eve Kelliher

“Does anyone want to be my friend?” roared my five year old as he walked into the playground at our French campsite on holidays.Learner Dad: 'It can be heartbreaking watching your kids try make friends on holiday'

These handy product edits are so useful for travelling, says Katie Wright.Palettes pack a punch: The travel must have

More From The Irish Examiner