Expert calls for public register of mortgages sold to vultures

The Government needs to set up a public register for households to track the new owners of their mortgage loans when they are sold onto vulture funds, a leading legal expert on mortgage arrears has said.

Paul Joyce, senior policy adviser at the Free Legal Advice Centres, or Flac, said sales of distressed mortgage loans quickened last year as banks sold off loans in arrears to vulture funds and other companies.