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#Vulture funds

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

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

news

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

Oireachtas paper suggests examining British proposals to help support hard-hit households

<p>Last week, John Gaffney had debts of more than €58m written off as part of a High Court-approved personal insolvency arrangement which was negotiated by Alan McGee. </p>

news

Vulture funds are fuelling insolvency, warns practitioner who negotiated Cork publican's €58m write-off

<p>Publican John Gaffney engaged in the personal insolvency arrangement process, and hit the headlines last week when his €58m-plus debt write-off was approved by the High Court. File picture: Denis Minihane</p>

spotlight

Legislation must be overhauled to protect people from vulture funds

Burnt Cottage

news

Cork council to intensify compulsory purchase of derelict properties

Sinn Fein Ard Fheis 2024

politics

Sinn Féin leader says she never considered stepping down despite hard year for the party

Estate Agents Signage

economy

Mortgage arrears continue to fall but vulture funds strengthen their grip on the market

Ireland stock

Government remains 'steady and solid' despite budget tensions

Micheál Martin said Neale Richmond had not 'given a heads up' to his senior minister, Jack Chambers, who is set to deliver his first budget in three weeks

Tue, 10 Sep, 2024

Mick Clifford: Neale Richmond's on a roll as minister for kite-flying

S Mick Clifford: Neale Richmond's on a roll as minister for kite-flying

The junior finance minister's big idea to raise stamp duty to discourage bulk-buying by vulture funds should come with an apology for the long and torturous road that has brought us to this point through his party’s mishandling of housing

Mon, 09 Sep, 2024

Tánaiste: Junior minister's vulture funds tax call 'not sensible'

Tánaiste: Junior minister's vulture funds tax call 'not sensible'

Micheál Martin urged 'caution in terms of market-sensitive issues' and said there needed to be certainty for those building homes

Mon, 09 Sep, 2024

Neale Richmond says call to double stamp duty on vulture funds 'is not electioneering'

Neale Richmond says call to double stamp duty on vulture funds 'is not electioneering'

Junior finance minister defended the suggestion despite the Government's rejection of such a plan earlier this year

Sun, 08 Sep, 2024

Regulator finds bank departures have been costly for borrowers

Regulator finds bank departures have been costly for borrowers

In its annual bulletin, the Central Bank indicated that the departure of KBC and Ulster Bank left banking customers unable to “perfectly substitute to other sources of borrowing” and were therefore on the hook for establishing relationships with new lenders.

Thu, 22 Aug, 2024

Student accommodation: Stop accommodating the private sector

Student accommodation: Stop accommodating the private sector

Our universities are no longer home to the brightest minds changing the world — they’re home to large real estate companies with an increasingly insignificant academic wing, writes the president of Trinity College Dublin Students' Union Jenny Maguire

Wed, 14 Aug, 2024

PTSB sells loans in arrears to Mars Capital

Permanent TSB, which trades as PTSB, completed the deal as part of a consortium arrangement with Mars Capital and certain funds managed by US based vulture fund Apollo Global Management.

Fri, 19 Jul, 2024

Housing stock

Mortgage arrears slow ahead of ECB rate cut despite cost pressures

Early mortgage arrears crept up by 1%

Fri, 05 Jul, 2024

Boarded up shop

Fine Gael to consider vacancy grant changes

Proposal is contained in the party's local-election manifesto

Mon, 27 May, 2024

Housing market

Stephen Hamilton: Rate reductions and new competition provides opportunity for mortgage customers

A mortgage price war has erupted among the main Irish lenders such as Haven Mortgages, AIB, PTSB, Bank of Ireland, and Avant Money.

Sun, 19 May, 2024

Housing market

Central Bank says inadequate support for borrowers contributes to mortgage arrears

Banking watchdog says lenders contributed to the rise in short-term arrears by failing to provide adequate customer support

Wed, 24 Apr, 2024

Homeowners survey

Complaints relating to banking services jump, says ombudsman

Meanwhile, separate banking industry figures confirmed modest recovery in mortgage lending so far this year but the switching market has dried up because of high interest rates

Wed, 27 Mar, 2024

Early-stage mortgage arrears rise at end of 2023

Early-stage mortgage arrears rise at end of 2023

The number of households falling into arrears with their mortgage repayments increased at the end of 2023 following the first full year of aggressive interest rate hikes even as accounts in long-term arrears fell, Central Bank figures suggest.

Tue, 26 Mar, 2024

Vulture fund interest rates may be unenforceable, says former High Court master

Vulture fund interest rates may be unenforceable, says former High Court master

Edmund Honohan said that mortgage holders have two arguments against rate increases

Fri, 27 Oct, 2023

'How is this fair?' Cork farming family risks losing everything

'How is this fair?' Cork farming family risks losing everything

A family that ran up debts after falling foul of the milk quota system is having land sold from under them by a vulture fund that bought their debt

Sun, 11 Jun, 2023

Couple locked out of their Clonmel store once locked in with a vulture fund

Couple locked out of their Clonmel store once locked in with a vulture fund

Tony Kenny and Joan McEneff's clothes shop continues to trade under threat of closure after Everyday Finance bought its loans from AIB

Sat, 03 Jun, 2023

Vulture funds and non-banks now account for 16% of mortgage market — Central Bank

Vulture funds and non-banks now account for 16% of mortgage market — Central Bank

At the end of 2009, the sector accounted for just over 2% of the market

Tue, 16 May, 2023

Central Bank resistant to capping mortgage interest rates

Central Bank resistant to capping mortgage interest rates

Finance Minister Michael McGrath has ordered the Central Bank to assess whether the funding model for vulture funds in the non-bank sector warrants the high rates of up to 7% they are now charging some customers

Fri, 05 May, 2023

'We want to pay our way': O'Donovan's Hotel and their battle with Everyday Finance

'We want to pay our way': O'Donovan's Hotel and their battle with Everyday Finance

A loan that the family took out with AIB sixteen years has come back to haunt them after it was sold to a vulture fund, writes Mick Clifford

Sun, 16 Apr, 2023

Aoife is one of thousands of ‘mortgage prisoners’ from 2008 banking crisis

Aoife is one of thousands of ‘mortgage prisoners’ from 2008 banking crisis

Despite never missing a mortgage payment on her family home, the Kerry mother of three nonetheless finds herself at the mercy of a vulture fund, writes Special Correspondent Mick Clifford

Mon, 20 Mar, 2023