Irish mortgage holders await legislation

More than 18,000 mortgage holders are still awaiting clarification over the level of protection to be afforded them under proposed legislation as a row over the detail of the bill rumbles on.

The Consumer Protection Bill, which was drawn up after a lengthy consultation process, is intended to protect families whose mortgages have been bought by third parties.

After being bought by so-called vulture funds, the administration duties are often farmed out to mortgage servicing firms, which then liaise with borrowers.