Mortgage breaks will not be extended beyond this week

Credit: Irish Times The mortgage repayment breaks introduced in response to the Covid-19 pandemic will not be extended beyond the end of this month and the banks will instead deal with distressed borrowers on a case-by-case basis, the Government has said. Tánaiste Leo Varadkar, Minister for Finance Paschal Donohoe, and Minister for...

Flac warns about danger of vulture funds

Credit: Irish Times New rules could guard against homelessness and poverty, says human rights body. People could suffer homelessness and extreme poverty without new rules to block the sale of mortgages to so-called vulture funds, the Free Legal Advice Centres (Flac) has declared. The Oireachtas Finance Committee is currently examining a Sinn...

State supports banks’ spin on troubled loans

Credit: Business Post Data from Ulster Bank’s sale of mortgages to Cerberus shows the majority of those in long-term arrears are not non-engagers or uncooperative. They simply can’t pay. There has been some commentary around banks and vulture funds repossessing family homes, but exceptionally relevant information has been left out...