My Indo article: Any help for mortgage holders should be for those who really need it.

Not about needing to borrow. But choosing to use leverage, can increase their returns in the equity they deploy.
 
"Having realised"? Surely, an entity buying a portfolio of mortgages knows, a priori, that it's a long term venture? I doubt that this dawned on them slowly after the fact...
Due Diligence doesn't seem to have applied in many cases. I use the word realise lightly.
 
The only thing the State need to do to help the Vulture Fund mortgage holders is to make them respect the rates of the original lender , that costs nothing , yes the Vultures took the bad loans from the Banks but they did so at a massive discount which the taxpayer made good for the banks so its not like the really were knights in shining armour . They will make a very healthy profit respecting the High Street Bank rates and their so called excuses for the over the top rates are nothing but greed .
 

I disagree that forcing VFs to charge the same as banks would cost nothing. The VFs have a vastly different funding model they're really not comparable. That's even before you look at the difference in credit risk between borrowers at these funds and banks.

By changing the rules of the game after the event you may result in VFs never purchasing bad loans from Irish banks again or drive down the discount they require. So in the future it will mean a deeper more pronounced recession than without having the VFs.

I'm not a fan of VFs but they did provide a service for the greater good - most definitely not those who are stuck with them. Is it greed/opportunism probably but until such time as we have a financial/legal system that can resolve a high arrears rate in a timely manner id be careful about legislating them out of the market. We might need them again.
 
The only thing the State need to do to help the Vulture Fund mortgage holders is to make them respect the rates of the original lender
To balance that you would also need to allow them to evict those who can't or won't pay their mortgages to allow them sell the property quickly.

over the top rates are nothing but greed
Emotive language doesn't help. These businesses aren't a charity, they are in business to make a profit, and profit is a good thing. Without it we'd all be in a very bad place.
 
Correct that any business is not a charity but they purchased the loan books at a massive discount in the full knowledge what the protections in this country are , Project Glas was sold by PTSB to Start at a 38% discount so that gives Start plenty of room to keep rates as per the PTSB rates and still make a very healthy profit . None of the Vultures will ever actually be at a loss from the many loan books they purchased here since the post Celtic Tiger Crash , plus many current loan sales are not distressed but rental properties which are not in arrears and those mortgage holders are now being fleeced by the vultures charging alot more that the original providers .
 
So what profits do you think they are making?
The dont report them to the public do they ???? But this article from Forbes does put it in perspective
 
Interesting. If you have a private pension then you may well be a beneficiary of his behaviour.
 
An extension of 32 years is excellent. You can't pay a mortgage when you are dead anyway!