Dublin South West TD, Se\u00e1n Crowe, has described Ulster\nBank\u2019s sale of \u20ac800 million worth of properties to a vulture fund Pepper\nFinance as a bitter blow to thousands of its customers. The Sinn F\u00e9in TD said\nthat Ulster Bank has been encouraged by the Government\u2019s light touch approach\nto take the easy option rather than find long-term solutions in the interests\nof families.<\/p>\n\n\n\n
Crowe called for his party\u2019s ‘No Consent, No Sale’ Bill to\nbe progressed immediately, which would ensure banks could not sell mortgage\nloans without the consent of the borrower.<\/p>\n\n\n\n
Deputy Se\u00e1n Crowe said:<\/p>\n\n\n\n
\u201cWhile many people were blindsided and probably distracted by the Budget, Ulster Bank confirmed, in a shock announcement that they would be selling off 2,800 family homes to vulture funds.<\/p>
\u201cThis is the latest round in the great Irish sell-off, with international funds buying up Irish properties at knock-down prices. Thousands of families are now facing a future of uncertainty and insecurity.<\/p>
\u201cClearly mortgage holders are not safe under the current rules. Sinn Fein\u2019s \u2018No Consent, No Sale\u2019 Bill must be progressed to protect consumers and families in the face of further sell-offs and a future of uncertainty.<\/p>
\u201cThis legislation would ensure that banks cannot sell on loans without the consent of the borrower. The sale this week by Ulster Bank of \u20ac800 million worth of properties to a vulture fund Pepper Finance is a low and bitter blow to thousands of its hard-pressed customers.”<\/p><\/blockquote>\n\n\n\n
ENDS<\/p>\n","protected":false},"excerpt":{"rendered":"
Dublin South West TD, Se\u00e1n Crowe, has described Ulster Bank\u2019s sale of \u20ac800 million worth of properties to a vulture fund Pepper Finance as a bitter blow to thousands of its customers. The Sinn F\u00e9in TD said that Ulster Bank has been encouraged by the Government\u2019s light touch approach to take the easy option rather […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[298,400],"tags":[],"class_list":["post-3957","post","type-post","status-publish","format-standard","hentry","category-ulster-bank","category-vulture-funds"],"_links":{"self":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/comments?post=3957"}],"version-history":[{"count":1,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3957\/revisions"}],"predecessor-version":[{"id":3958,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3957\/revisions\/3958"}],"wp:attachment":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/media?parent=3957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/categories?post=3957"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/tags?post=3957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}