Sunday 24 September 2017

Analysis: We will see more deals before vultures fly off to next opportunity

'As the vulture fund era enters end game in this country, we will see more repossessions.' Stock Image
'As the vulture fund era enters end game in this country, we will see more repossessions.' Stock Image
Charlie Weston

Charlie Weston

Vulture funds are not known for their compassion, so when they offer write-downs to mortgage holders you have to ask why they are doing this.

The vultures swooped in here when the economy hit the skids from 2008 on, and had to be bailed out by international institutions in 2010.

Since the State's IMF-led bailout in 2010, banks including AIB, IBRC, Ulster Bank, Permanent TSB, Danske and Bank of Scotland have sold billions of euro of loans attached to properties and businesses.

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