Taoiseach: Planned legislation will protect mortgage holders from vulture funds

The Taoiseach is insisting that planned legislation will improve protections for people who find their mortgage has been sold to a vulture fund.

It follows the €1.3bn sale of nearly 11,000 non-performing loans by Permanent TSB.

The bank has been criticised for selling the portfolio to a vulture fund, rather than dealing with troubled mortgages in-house.

Leo Varadkar says protections for mortgage holders should be improved in the next Dáil term.

"Legislation that is coming in in the next session will make sure that vulture funds are regulated, much more so than they are now - or investment funds, whatever you want to call them - so that those consumer protections exist," he said.

Digital Desk


Related Articles

Banks accused of ‘washing hands’ of problem mortgages

Vulture deal will will see ‘mass homelessness’

Q&A: Vulture funds waiting in the wings to snap up poor-performing loans

'Remarkable casualness' to sale of permanent TSB mortgages to vulture fund

More in this Section

Stage set for Pope’s visit to Ireland

High Court challenge launched over choice of new Garda Commissioner

Gardaí appeal for witnesses following fatal Kildare crash

Dublin work colleagues scoop €278,000 in EuroMillions win


More From The Irish Examiner