“As night follows day, the next area that will be looked at is warehoused loans because they are now the next non-performing loans. Mr McGrath said it was a concern as to what would happen with warehoused loans: “There is €1.5bn of warehoused mortgaged debt in split-mortgages, in the average of €50,000. Mr Kissane said there was now an added pressure on homeowners who warehoused part of their mortgage with the arrival of vulture funds. “The contributory effect to the rental market because of vulture funds is the amount of properties that are empty because receivers are appointed. IFA president Joe Healy accused vulture funds of “preying” on families, and “killing off farm businesses”.

Source: Irish Examiner October 18, 2018 23:03 UTC