Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

We need this to work for homeowners. There is clear evidence, as the Central Bank has warned on many occasions, that the waterfall of alternative repayment arrangements has not been sufficiently worked through by lenders. The easy reflex option of sale to third parties and vulture funds has been used, rather than finding sustainable solutions for borrowers. There is a cohort of borrowers whose loans were sold and are now owned by the vulture funds, with increasing interest rates suddenly rising sharply. They are refusing to engage with the borrowers, offer fixed rates or consider sustainable solutions. There is a real problem here for those who are caught in the trap of mortgage arrears.

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