Sinn Féin has said that homeowners who are stuck on high interest rates with vulture funds need government support now, and that it cannot wait until October’s Budget.
SINN FÉIN HAS said that homeowners who are stuck on high interest rates with vulture funds need government support now, and that it cannot wait until October’s Budget.
“I will need to examine with my colleagues what represents the best use of our resources and how can we target our resources to those that need them the most,” McGrath said. Earlier this year, the party put forward a motion in the Dáil that would have seen a temporary and targeted scheme put in place.
Many of the customers of such funds are unable to switch their mortgage back to a high-street lender because they were deemed to be ‘non-performing’ in the past or because they availed of some kind of restructuring of their mortgage like going interest-only with their payments for a period. Others say that some targeted support should be provided by the State regardless, in order to support the segment of people whose mortgages are held by vulture funds but who are unable to switch to a high-street lender.
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