Clearing Start mortgage, what happens warehouse amount?

[Sj7791]

Looking for advice on a Start restructured mortgage, with half warehouse over 10 years. Apologies in advance for the complicate explanation below to summarise my question:

- House value: 500-550k
- Outstanding mortgage: 450k (200k warehoused in 2013)
- Mortgage sold by PTSB to Start
- No arrears, and no other debt
- Family home for me & children since separation 10 years ago, house still in both our names
- We have continued to contribute 50% of monthly payments (capital and interest) per separation agreement as ex earns substantially more than me, (3 times my salary, and I worked part-time to care for our kids)
- I have recently inherited an amount of money, not quite enough to completely clear the full €450k, but close enough & I will need a small mortgage, credit union have approved this in principle.So my actual question is, is it possible to make arrangements/deals with vulture funds, to clear the full debt. I have been told (by unqualified but helpful friends) that the vulture funds bought the mortgage from bank at a lower cost than the actual mortgage, may be willing to negotiate a deal to switch lender, and clear the debt..... Thanks in advance

 

[PaddyW]

There's no straightforward answer to that,really. You could just ask them is there a chance of a deal. Don't reveal how much you have, just wait and see what they say.