A Donegal TD is claiming that no mortgage or loan, in arrears or otherwise, is safe from sale to vulture funds.
It’s after Ulster Bank’s sale of 900 million euro worth of loans, including 3,200 family homes, to vulture funds.
Sinn Fein Finance Spokesperson Pearse Doherty says his ‘No Consent, No Sale’ Bill would ensure banks cannot sell on loans without the consent of the borrower.
But does Deputy Doherty think it’s realistic that such consent will be sought from individual homeowners, whose mortgages are often combined in bundles for sale?
