Vulture funds charging interest rates of at least 8.5% to 7,000 homeowners

The paper noted a significant shift in interest rate payments across all institutions in recent years.

Around 7,000 homeowners in Ireland are paying an interest rate of at least 8.5% on their mortgage to vulture funds, a new Oireachtas paper has said.

To help support these households, the Government could examine proposals from Britain that have included interest-free equity loans on the model of the help-to-buy scheme, it added.