Selling mortgage debt to vulture funds 'could make up to 2,500 people homeless'

The Peter McVerry Trust has said it is concerned about the moves being made on distressed mortgages.

The national housing and homeless charity said it is worried about the timing and impact of the planned sell-off.

The charity's CEO Pat Doyle said that financial institutions should take into account the impact on people living in the homes involved.

"Signing 25,000 units between Ulster Bank and TSB over to private organisations means that they will eventually move on the 10% of worst-case bad debt," he said.

"And 10% of 25,000 is 2,500 distressed mortgages. Where does the Minister for Finance expect those people to go?"

- Digital desk

KEYWORDS: Homelessness

 

Most Read in Ireland