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Homeowners with mortgages owned by vulture funds hit with huge rate hike

Mars Capital has told 1,400 customers their rates are rising by up to 1.6 percentage pointsSome borrowers have been told their mortgage rates are now as high as 9pcPeople whose loans have been sold to vulture funds say they have been forgotten by the Central Bank and by the Government

A firm that manages mortgages sold by banks to vulture funds is hitting a number of its customers

Charlie Weston

A firm that manages mortgages sold by banks to vulture funds is hitting a number of its customers with a huge hike in interest rates.

Debt servicing firm Mars Capital Finance Ireland, which manages problem mortgages sold by banks to vulture funds, has told around 1,400 customers that their variable rates are rising by 1.6 percentage points next month.