AIT Finance Lecturer believes sale of loans to vulture funds has some positives

A Shannonside-based financial expert doesn’t believe that vulture funds taking over underperforming mortgages from Irish banks will be as bad as being assumed.

Earlier this week Ulster Bank and Permanent TSB confirmed that they would be selling off part of their current loan portfolios to so-called vulture funds.

Homeless charities have previously warned that vulture fund sales could lead to a ‘tsunami’ of home repossessions.

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Brendan Doyle, Lecturer in Financial Accounting, in the Dept of Accounting & Business Computing at AIT told the Joe Finnegan Show that vulture funds can sometimes be more willing to negotiate or cut a deal with people under financial pressure: