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Friday 3 February 2023 Dublin: 10°C

# Vulture funds

All time
# Vulture funds
Almost 40,000 people sign petition demanding government takes more action against vulture funds
The petition includes demands such as the scrapping of investor tax breaks.
Voices
Opinion: I've returned to Ireland, I'm an entrepeneur on a good living - I can't afford a home
Eoin Hayes returned to Ireland after years abroad, set up his own business and now rents. He says he cannot get near the property ladder.
# Emergency Legislation
'I'm not sure TDs were fully informed': High Court Master highlights issues with Covid legislation on vulture funds
Judge Edmund Honohon questioned why a sunset clause was not set out in the emergency legislation.
# birdbrained
Quiz: How much do you know about cuckoos and vultures?
Don’t get in a flap about this.
# Housing
Donohoe says government's new housing measures will act as 'strong deterrent' to cuckoo funds
The opposition, however, doesn’t agree and the plans have been described as a “too little, too late”.
Voices
Opinion: 'The consequences of turning a deaf ear to voters on housing are political dynamite'
Dr Lorcan Sirr and Orla Hegarty say that to understand the current housing crisis, you must first learn of the history of housing provision in Ireland.
# Leaders' Questions
Vulture funds are 'preying on the misery and distress' of farmers
The Tánaiste said if people borrow money, they have a responsibility to pay it back.
# Central Bank
So-called vulture funds and non-bank lenders to allow three-month mortgage break over Covid-19 outbreak
The Central Bank said this evening that there was no impediment to providing the three-month payment breaks.
# mortgage sale
Ulster Bank sells off nearly 4,000 of its customers in massive family home loan book sale
90% of the loans due to be sold are family homes – about 3,200 accounts.
# Cabot Financial
Taoiseach asks for details about letters sent to mortgage-holders demanding full payment of arrears within 30 days
Taoiseach has said it is now time for to review the tax treatment of vulture funds.
# Vulture funds
Taoiseach says he didn’t realise his mortgage could be sold on by his bank when he took it out in 2003
In an interview with TheJournal.ie this week, the Taoiseach said he understood the intent behind Sinn Féin’s No Consent No Sale Bill.
# Vulture funds
Concerns over letters sent to mortgage-holders demanding full payment of arrears within 30 days
The Central Bank is aware that a regulated entity has written to a number of buy-to-let borrowers in arrears.
# Housing
'Cuckoo funds' shutting out first-time buyers and operating tax-free need urgent review, says FF
Corporate investors known as so-called ‘cuckoo funds’ have spent over €1.1 billion on nearly 3,000 residential properties in Ireland last year
# Banks
Finance Minister says he wouldn't mind if his mortgage was held by a vulture fund
The minister said the Sinn Fein Bill to give mortgage holders the power to block the sale of their loans to vulture funds is unconstitutional.
# sell off
'The banks are dictating what happens': TDs say government relying on 'constitution' card to block vulture funds Bill
Officials were quizzed about their assertions the Bill is unconstitutional and would result in higher mortgage interest rates.
# homeowners' rights
Central Bank to scrap code of conduct for banks on the transfer of mortgages as it's 'not relevant'
Sinn Féin’s No Consent, No Sale Bill aims to puts the code on a statutory footing.
# Housing
UN says Ireland applies 'preferential tax laws' to vultures funds and it 'cannot continue'
The report states that “landlords have become faceless corporations wreaking havoc with tenants”.
# tax loophole
High Court Master says case could be taken against Ireland over special tax treatment given to vulture funds
Edmund Honohan has said there are many similarities to be drawn with the Apple case being taken.
Taoiseach told that 'banks are as aggressive and as arrogant as the time of the crash'
Fianna Fáil TD John McGuinness told the Taoiseach that people are crying out for help.
# Great Irish Sell Off
Bill which aims to force banks to ask for permission before selling mortgages to vulture funds passes in the Dáil
The Bill puts into law what already exists at the moment as a voluntary Central Bank code
Voices
Opinion: Sound the alarm - a proposed EU directive on bad loans will give vulture funds a free rein
A proposed new EU Directive aims to develop a secondary market for non-performing loans and poses a serious threat to the rights of borrowers and consumers, writes Matt Carthy.
# fair mortgage bill
'It's your job to call the vulture funds out': High Court Master pens letter to Micheál Martin
Edmund Honohan urged the Fianna Fáil leader to support a piece of legislation he wrote that is currently before the Dáil.
# Vulture funds
Almost 7,000 loans in arrears held by 'unregulated loan owners'
Unregulated loan owners hold 17% of all mortgages in arrears over 720 days.
# mortgage sell-off
Taoiseach vows to close loophole that allows €1.3bn mortgage 'vehicle' not to pay tax
Last week, PTSB bank bosses confirmed that the ‘special purpose vehicle’ which more than 6,000 of its mortgages have been transferred to will be exempt from tax.
# Mortgage Arrears
Central Bank to track a 'critical mass' of restructured mortgages that are due to come up for review
Finance Minister Paschal Donohoe said there will be no change to the code of conduct, as it is working effectively.
# Mortgage crisis
343 homes repossessed over mortgage arrears during second quarter of 2018
Tens of thousands of people are still feeling the effects of the mortgage crisis ten years later.
# Vulture funds
Finance Minister says it's up to PTSB if it wants to appear before the finance committee over loan sale
Last month, PTSB sold its controversial Project Glas loan portfolio to an affiliate of the so-called vulture fund Lone Star for around €1.3 billion.
# Vulture funds
Mortgage-holders caught up in PTSB loan sale to be invited to tell of the turmoil it has caused
Sinn Féin’s finance spokesperson Pearse Doherty said a full committee session should be dedicated to the loan book sale.
# sell off
'Mary' is recovering from cancer and her mortgage - in €29k arrears - has been sold to a vulture fund
‘Mary’ has been out of work since her cancer diagnosis. She had no idea her mortgage was to be sold to a vulture fund.
# where's paschal?
'We own some of the banks, but we don't run the banks': Minister says government can't stop vulture fund sales
Questions have been mounting as to where Finance Minister Paschal Donohoe is in the midst of this summer’s vulture fund sell off.
# Interview
Shane Ross: 'I'm sorry some people will lose part of their front gardens, but it's in the national interest'
In an interview with TheJournal.ie, Shane Ross also says the government needs to have more of a say in State-owned banks.
# sell off
PTSB sells thousands of home loan mortgages to vulture fund
A total of 7,400 are owner-occupier mortgages, while 3,300 are buy-to-let properties.
# sell off
A 'difficult decision': Ulster Bank confirms it will sell 6,500 mortgages in arrears
Around 3,600 of the mortgages are private dwellings that have fallen in arrears.
# People Power
'There's power in community': Farmers urged to boycott forced sales of farms by vulture funds
The IFA has been contacted by around 200 farmers impacted by the issue so far this year.
'It's a gagging order': Department tells councillors not to discuss private planning applications
Councillors have said the direction from the Department of Housing is an attempt to undermine local democracy.
# receivers
'Landlord said it was none of his business': Tenants left 'in limbo' after vulture funds buy property
Housing charity Threshold says numerous renters had contacted it over problems with vulture funds and receivers.
# Permanent TSB
Grafton Street branch of PTSB occupied by anti-vulture fund demonstrators
The protesters accuse the bank of putting the lives of people in almost 20,000 households in jeopardy.
# rents and mortgages
Taking on vulture funds and using State lands: How the opposition is trying to fix Ireland's housing situation
The utilisation of State land for affordable rental properties and the regulation of vulture funds is to be debated in the Dáil.
# Mortgage Arrears
Protesters deliver a coffin to the door of PTSB, as government agrees to regulate vulture funds
The Central Bank is to review their code of conduct for how financial institutions deal with those in mortgage arrears.
# Vulture funds
PTSB chief refuses to appear before Finance Committee next week over loan sale
The bank recently announced it is to sell off a €3.7 billion portfolio of non-performing loans, including mortgages 14,000 private dwelling homes.