Like A Vulture In Headlights

at

Cockney.

isn’t he.

Permanent TSB’s (PTSB) planned sale of €900 million of “split mortgages” will expose borrowers to the whims of overseas investment funds, as contracts underpinning such arrangements entitle the lender to terminate the accord at will, the Oireachtas finance committee heard on Thursday.

As of the end of December, PTSB has restructured some 6,157 troubled owner-occupier loans as split mortgages, where repayments of interest and principal on part of the loan are put off to a future date, subject to a review every three years.

PTSB split-mortgage sale exposes customers to ‘will of vultures’ (Irish Times)

14 thoughts on “Like A Vulture In Headlights

  1. Kolmo

    Turns out the performing loans are now reclassified as non-performing…and so can be hawked off to whatever anti-social parasite who can then boot families out onto the street…how is there not 100,000 people marching about this?

    1. david

      Because no one cares sad to say
      I would say these people are regarded as the flotsam of life unsuccessful and one step away from
      Homelessness
      These wretches do not fit in with varadkas vision of the future a society modelled on deli with slums and shanty towns to house he low paid
      The deal has been done years ago
      The reality is now being exposed
      That is he price put on the Irish people
      So head down and remember arbeit Macht frai

  2. Neilo

    Take out loan secured against property. Pay back loan or risk loss of property. It’s how us long-suffering eejits do it.

    1. dav

      times that by a billion and you just sit back, relax, and let the government bail you (your bank) out. 1 law for the rich etc..

      1. realPolithicks

        +2018. As they say if you owe a bank $100,000 thats your problem, if you owe them $100,000,000 thats the banks problem.

    2. johnny

      you’ve been bombarded with property porn by the irish times and trinity coll economic and housing ‘expert’ (Brain Luc.y),told by friends and family that your a loser if you don’t get on the property ladder.
      your instinct tells you its close top the market,same expert (Brain L*cey at TCD) writes article after article extolling the joys off subprime while getting paid by them, your financially illiterate and preyed on via TV/NEWS/Ads assuring you that subprime is for you, that your life will improve dramatically if you only took out a 110% mortgage,for a badly built overpriced dump.
      you will be taller,faster,fitter,feel better just GO FOR IT-take out the mortgage,house prices in Ireland only go up.
      housing market collapses,your health declines,stress is off the charts,and now they want hold you personally responsible for predatory and in many cases fraudulent lending,while keeping their pensions and bonuses.

      1. johnny

        they still at it !
        just Chill and take out a loan NOW with an interest rate off 16.8% (22.9% Annual Percentage Rate (APR)),its usurious and basically a loan shark/pawn show disguised as a lender. check out the literally reams of articles in irish (inm) media,the ‘advertorials’,about ‘Chill’ loans-how many mention the interest rate ?

        this is probably just a coincidence..

        “Seamus obtained a Bachelor of Commerce Degree (B Comm) from University College Dublin in 1989 and an MBS in International Marketing a year later. In 1990 he joined Eircom in its New Enterprise Department identifying new business opportunities for the company. Seamus joined Esat Telecom in early 1994 as part of its GSM licence bid team and he managed, for two years, the successful application for Ireland’s second GSM licence. He helped to set up Esat Digifone where he assumed the position of National Sales Manager.

        On the sale of Esat Telecom Group plc to British Telecom Group plc, Seamus joined Digicel as Chief Executive Officer for Digicel Jamaica. In January 2002, Seamus was named Digicel Group Chief Executive Officer and held this role to December 2004.”

        https://www.chill.ie/company/staff/seamus-lynch/

  3. Jake38

    Anywhere else this long running farce would have been resolved years ago and everyone would have moved on.

    1. david

      It was
      Now a case of evicting the caretakers now the property has risen so a massive profit is to be made no doubt

  4. mildred st. meadowlark

    I fupping hate this kip of a country.

    Every which way you look is some group or party or bank looking to exploit the ordinary person, the ones who work for 50 odd years, for as much as they can get and the government just encourage it.

    It’s a fupping kip and I wish to god I’d got the fupp out when I’d had the chance.

  5. david

    If I had my way every banker would be dragged out of their beds and cattle prodded on a march the length and breadth of this nation begging forgiveness
    And a government with balls confiscating every asset they posses to compensate the country for the billions they cost us
    I would also strip any of these developers who cleansed them self at our peoples expense from any chance of building an on line profile never mind a toilet in this country

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