Vulture funds: Ireland ‘the gift that keeps on giving’?



Sinn Féin spokesperson for Roscommon Claire Kerrane has said Ulster Bank’s sale of €900 million worth of loans including 3,200 family homes to vulture funds is unacceptable. She said the political support of government allows the banks to get away with these sales.

  Ms. Kerrane said: “Once again, the vultures and banks are colluding to sell out thousands of Irish families. This bonanza for vultures is only possible because the government have given political support to vulture sales. Fine Gael are as responsible for this sale as Ulster Bank.

  “Recently a Chief Executive at a vulture fund told an audience that Ireland is the ‘gift that keeps on giving’.

            “Thousands of Irish families are facing the potential sale of their loans to a vulture fund and the government is actively encouraging it”.

  “The reality is that no loan, in arrears or otherwise, is safe under the current rules. Sinn Féin’s ‘No Consent, No Sale’ Bill needs to progress urgently. This is an important piece of legislation which will ensure that banks cannot sell on loans without the consent of the borrower”.